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The Tele-Sonic is cult popular now. When new they sat on the racks forever and a day until price drops at the big box retailers blew them out.
Now they seem to end up on ebay with owners that ask quite a bit for them. Often more than they sold for new. I wouldn't call them rare per se, but definitely a limited production model.
Basic construction is like the American Standard of that era with a painted headstock and the different control routes, pups, guard and Gotoh stop tail.
I think Fender did a better job on the Strat-O-Sonic variant which used a chambered Mahogany body with a completely new bridge design which was pretty slick and that went away when Strat-O-Sonics were discontinued. I had a single pup Strat-O-Sonic for quite some time and it was a very nice guitar.
The Aerodyne Telecaster is another hybrid Fender gaining "cult" popularity. I loved mine so much I decided to sell my long time workhorse , original 1959 slab board. I won't go as far as to say the Aerodyne was as good as the '59 but I found the P-90 neck w/tele bridge p/u combination...along with with the overall ergonomics of its design to be the most versatile gigging guitar I've ever owned. Not sure when discontinued but prices on ebay have doubled since I bought mine in 2008.