Are you using a II? I didn't hear anything magical about the sound you posted that I can't get with the II. With the Ultra, the really clean with an edge stuff didn't sound as good and it sure didn't feel as good, but any of the Fender sims should be able to get somewhere in this neighborhood.
For me, I mostly run the master almost all the way up, dial in pregain to taste, typically around 4.5 to 7 depending on how clean or edgy I want it, then set the level to compensate for more or less level out of the pregain/master combo. Normally on a really clean sound, the level is cranked pretty high 90%. On something with more gain, maybe 60-70%.
If you get too much grind, reduce pregain (and maybe master a little) and raise level. If not enough, more pregain, less level.
Something I haven't done much with the II, but did with the Ultra a lot was to turn on the bright switch (which I don't often do on a real Fender) and change the cap value so it's a bit mellower than the normal bright switch mode. That can add lots of sparkle.