Rando,
Here's a link to a page on troubleshooting a stratocaster guitar with a multimeter, Strat Troubleshooting. You might want to look up similar pages and that might help you out. From your post, I figure you checked the resistance of the tone potentiometer with respect to ground and that the 0 - 465 kohm reading is the correct "spec" value for that pot/guitar/pickup configuration. Now it could still be the pickup, but the "buzzing" sound to me seems like it's due to either a bad potentiometer or possibly the pickup selector switch. I'd reason that it's not the guitar jack since your other pickup seems to work, but a bad switch could be bleeding off some of the treble pickup circuit into the neck pickup. I'd try a continuity(?) check on the switch, and also try turning the volume pot for the bridge pickup to zero if your guitar has independent volume pots for each pickup, and see if the "buzz" condition persists while playing with the neck pickup on. If it doesn't, then I'd bet the switch is the problem.
Again, just my thoughts. Maybe they'll be of some help to ye. Good luck.
Capt. Jones