I wanted to have a momentary button that would maximize my tremolo speed. I tried just putting the switch across lug 3 (speed) and lugs 1&2 (ground) but the fast sweep felt un-natural, I wanted something smoother. So I found a little circuit making your led fade in and out when powered, used it with an Ldr and voila! Perfect, totally controllable sweep. Tried it, been very happy, shared!
Also thought I should try this for on-box leds, it is cool to have your indicator fading :)