As promised, here is the non-extreme version.
A link to the schematic:
(dead link)
That doesn't show the layout, PM me and I'll email you the pdf.
Mod as follows:
R2: 470K
C8: 10pF ceramic
increases the input impedance and moves the RF filtration farther away from audio--stock was a bit close for comfort.
R9: 15K
reduces clean channel gain, makes the upper ranges of the knob useable.
R15: 1K
reduces lead channel gain by a factor of 10 (20dB). Yeah, that sounds like a lot, but the channel is designed to provide such a ridiculous amount of gain that it should restore some linearity to the supersat control.
CR3-6: change to LEDs. I think LED distortion is groovy, plus that increases the max post level off the lead channel slightly. If you don't like it, it will only cost $0.50 to restore the 1N4148s. Be sure to mind the polarity when you install!
C12-14,16,21,40-42: change to poly film of stock value. These are all ceramic in the stock EQ section.
All those parts should be available at your local Radio Shack. If you buy their bag of assorted LEDs for $2.59, there will be at least four little rectangle LEDs which are perfect for this circuit, although if you are cool, use a round LED for one of them and route that through the front panel, then you have a clip meter

Then you still have 16 LEDs left to play with!
Be careful about using higher voltage LEDs like the blue or white ones, they will clip the signal at a much higher level, and that will let more voltage through to the power amp stage. That could be a good or bad thing, I don't know. Stick with the little greens and reds if you don't want to experiment.
That's it! If you want to spend a little more, you could try upgrading the opamp to practically anything you like, I used OPA2134 which is $2 or so.
If you really want to get spendy, the Eminence 875 is around $50.