From Fender:
Vintage keys. For these, you'll want to pre-cut the strings to achieve the proper length and desired amount of winds. Pull the sixth string (tautly, remember) to the fourth key and cut it. Pull the fifth string to the third key and cut it. Pull the fourth string between the second and first keys and cut it. Pull the third string nearly to the top of the headcap and cut it. Pull the second string about a 1/2" (13 mm) past the headcap and cut it. Finally, pull the first string 1 1/2" (38 mm) past the top of the headcap and cut it. Insert into the center hole in the tuning key, bend and crimp to a 90-degree angle, and wind neatly in a downward pattern, being carefull to prevent overlapping of the strings.
but I'm willing to change... Oh wait ... My old Tele was liberated from my clutches by a filthy smelly druggie... 
Nevermind 
