I'd say quite a bit of overlap. I had a 509 and Special 22 when I got my ME-V. I lived with all three of them for a couple of months, and ended up selling the Special 22 and the 509. I found that they were essentially the "same" guitar. IMO, the ME-V splits provide a more authentic single coil tone than the splits on the 58-15MT of the Special. Plus, the Narrowfield on the Special got in the way of my picking. The middle pick up on the ME-V is positioned a little more towards the neck pick up, and doesn't get in my way. Also, while the 58/15MT splits were the best single coil version of a regular pick up, IMO, the new Special has 58/15LT, which aren't as good in a single coil setting, IMO.