We analyze the spectrum and properties of a highly-deconstructed Higgsless model with only three sites. Such a model contains sufficient complexity to incorporate interesting physics issues related to fermion masses and electroweak observables, yet remains simple enough that it could be encoded in a Matrix Element Generator program for use with Monte Carlo simulations. The gauge sector of this model is equivalent to that of the BESS model; the new physics of interest here lies in the fermion sector. We analyze the form of the fermion Yukawa couplings required to produce the ideal fermion delocalization that causes tree-level precision electroweak corrections to vanish. We discuss the size of one-loop corrections to b to s gamma, the weak-isospin violating parameter alpha T and the decay Z to b bar{b}. We find that the new fermiophobic vector states (the analogs of the gauge-boson KK modes in a continuum model) can be reasonably light, with a mass as low as 380 GeV, while the extra (approximately vectorial) quark and lepton states (the analogs of the fermion KK modes) must be heavier than 1.8 TeV.
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