diff --git a/.changeset/cold-dingos-dream.md b/.changeset/cold-dingos-dream.md
new file mode 100644
index 000000000000..c48414abc2b7
--- /dev/null
+++ b/.changeset/cold-dingos-dream.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: use fine grained for template if the component is not explicitly in legacy mode
diff --git a/packages/svelte/src/compiler/phases/2-analyze/index.js b/packages/svelte/src/compiler/phases/2-analyze/index.js
index fded183b86c3..80adc10c1ab7 100644
--- a/packages/svelte/src/compiler/phases/2-analyze/index.js
+++ b/packages/svelte/src/compiler/phases/2-analyze/index.js
@@ -431,6 +431,29 @@ export function analyze_component(root, source, options) {
 		template,
 		elements: [],
 		runes,
+		// if we are not in runes mode but we have no reserved references ($$props, $$restProps)
+		// and no `export let` we might be in a wannabe runes component that is using runes in an external
+		// module...we need to fallback to the runic behavior
+		maybe_runes:
+			!runes &&
+			// if they explicitly disabled runes, use the legacy behavior
+			options.runes !== false &&
+			![...module.scope.references.keys()].some((name) =>
+				['$$props', '$$restProps'].includes(name)
+			) &&
+			!instance.ast.body.some(
+				(node) =>
+					node.type === 'LabeledStatement' ||
+					(node.type === 'ExportNamedDeclaration' &&
+						((node.declaration &&
+							node.declaration.type === 'VariableDeclaration' &&
+							node.declaration.kind === 'let') ||
+							node.specifiers.some(
+								(specifier) =>
+									specifier.local.type === 'Identifier' &&
+									instance.scope.get(specifier.local.name)?.declaration_kind === 'let'
+							)))
+			),
 		tracing: false,
 		classes: new Map(),
 		immutable: runes || options.immutable,
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/utils.js b/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/utils.js
index 15982899c9d7..c861a51b7df2 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/utils.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/utils.js
@@ -370,7 +370,10 @@ export function validate_mutation(node, context, expression) {
 export function build_expression(context, expression, metadata, state = context.state) {
 	const value = /** @type {Expression} */ (context.visit(expression, state));
 
-	if (context.state.analysis.runes) {
+	// Components not explicitly in legacy mode might be expected to be in runes mode (especially since we didn't
+	// adjust this behavior until recently, which broke people's existing components), so we also bail in this case.
+	// Kind of an in-between-mode.
+	if (context.state.analysis.runes || context.state.analysis.maybe_runes) {
 		return value;
 	}
 
diff --git a/packages/svelte/src/compiler/phases/types.d.ts b/packages/svelte/src/compiler/phases/types.d.ts
index 67cbd75ff86f..8fa4bff61943 100644
--- a/packages/svelte/src/compiler/phases/types.d.ts
+++ b/packages/svelte/src/compiler/phases/types.d.ts
@@ -51,6 +51,7 @@ export interface ComponentAnalysis extends Analysis {
 	/** Used for CSS pruning and scoping */
 	elements: Array<AST.RegularElement | AST.SvelteElement>;
 	runes: boolean;
+	maybe_runes: boolean;
 	tracing: boolean;
 	exports: Array<{ name: string; alias: string | null }>;
 	/** Whether the component uses `$$props` */
diff --git a/packages/svelte/tests/runtime-legacy/shared.ts b/packages/svelte/tests/runtime-legacy/shared.ts
index 11ea9f6dda89..126992a0c070 100644
--- a/packages/svelte/tests/runtime-legacy/shared.ts
+++ b/packages/svelte/tests/runtime-legacy/shared.ts
@@ -158,7 +158,10 @@ async function common_setup(cwd: string, runes: boolean | undefined, config: Run
 		...config.compileOptions,
 		immutable: config.immutable,
 		accessors: 'accessors' in config ? config.accessors : true,
-		runes
+		runes:
+			config.compileOptions && 'runes' in config.compileOptions
+				? config.compileOptions.runes
+				: runes
 	};
 
 	// load_compiled can be used for debugging a test. It means the compiler will not run on the input
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-explicit-false/_config.js b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-explicit-false/_config.js
new file mode 100644
index 000000000000..904fea3f653c
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-explicit-false/_config.js
@@ -0,0 +1,17 @@
+import { flushSync } from 'svelte';
+import { test } from '../../test';
+
+export default test({
+	mode: ['client'],
+	compileOptions: {
+		runes: undefined
+	},
+	async test({ assert, target }) {
+		const p = target.querySelector('p');
+		const btn = target.querySelector('button');
+		flushSync(() => {
+			btn?.click();
+		});
+		assert.equal(p?.innerHTML, '0');
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-explicit-false/main.svelte b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-explicit-false/main.svelte
new file mode 100644
index 000000000000..cb5837dcd6da
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-explicit-false/main.svelte
@@ -0,0 +1,8 @@
+<svelte:options runes={false} />
+<script>
+	import { get, set } from "./test.svelte.js";
+</script>
+
+<p>{get()}</p>
+
+<button onclick={()=>set()}></button>
\ No newline at end of file
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-explicit-false/test.svelte.js b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-explicit-false/test.svelte.js
new file mode 100644
index 000000000000..f0e7181c29cc
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-explicit-false/test.svelte.js
@@ -0,0 +1,9 @@
+let count = $state(0);
+
+export function get() {
+	return count;
+}
+
+export function set() {
+	count++;
+}
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-$$props/_config.js b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-$$props/_config.js
new file mode 100644
index 000000000000..904fea3f653c
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-$$props/_config.js
@@ -0,0 +1,17 @@
+import { flushSync } from 'svelte';
+import { test } from '../../test';
+
+export default test({
+	mode: ['client'],
+	compileOptions: {
+		runes: undefined
+	},
+	async test({ assert, target }) {
+		const p = target.querySelector('p');
+		const btn = target.querySelector('button');
+		flushSync(() => {
+			btn?.click();
+		});
+		assert.equal(p?.innerHTML, '0');
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-$$props/main.svelte b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-$$props/main.svelte
new file mode 100644
index 000000000000..a7370b48d6d2
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-$$props/main.svelte
@@ -0,0 +1,9 @@
+<script>
+	import { get, set } from "./test.svelte.js";
+
+	$$props;
+</script>
+
+<p>{get()}</p>
+
+<button onclick={()=>set()}></button>
\ No newline at end of file
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-$$props/test.svelte.js b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-$$props/test.svelte.js
new file mode 100644
index 000000000000..f0e7181c29cc
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-$$props/test.svelte.js
@@ -0,0 +1,9 @@
+let count = $state(0);
+
+export function get() {
+	return count;
+}
+
+export function set() {
+	count++;
+}
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-$$restProps/_config.js b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-$$restProps/_config.js
new file mode 100644
index 000000000000..904fea3f653c
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-$$restProps/_config.js
@@ -0,0 +1,17 @@
+import { flushSync } from 'svelte';
+import { test } from '../../test';
+
+export default test({
+	mode: ['client'],
+	compileOptions: {
+		runes: undefined
+	},
+	async test({ assert, target }) {
+		const p = target.querySelector('p');
+		const btn = target.querySelector('button');
+		flushSync(() => {
+			btn?.click();
+		});
+		assert.equal(p?.innerHTML, '0');
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-$$restProps/main.svelte b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-$$restProps/main.svelte
new file mode 100644
index 000000000000..ccf9bd28642c
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-$$restProps/main.svelte
@@ -0,0 +1,9 @@
+<script>
+	import { get, set } from "./test.svelte.js";
+
+	$$restProps;
+</script>
+
+<p>{get()}</p>
+
+<button onclick={()=>set()}></button>
\ No newline at end of file
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-$$restProps/test.svelte.js b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-$$restProps/test.svelte.js
new file mode 100644
index 000000000000..f0e7181c29cc
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-$$restProps/test.svelte.js
@@ -0,0 +1,9 @@
+let count = $state(0);
+
+export function get() {
+	return count;
+}
+
+export function set() {
+	count++;
+}
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-const/_config.js b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-const/_config.js
new file mode 100644
index 000000000000..2d72de6d134d
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-const/_config.js
@@ -0,0 +1,17 @@
+import { flushSync } from 'svelte';
+import { test } from '../../test';
+
+export default test({
+	mode: ['client'],
+	compileOptions: {
+		runes: undefined
+	},
+	async test({ assert, target }) {
+		const p = target.querySelector('p');
+		const btn = target.querySelector('button');
+		flushSync(() => {
+			btn?.click();
+		});
+		assert.equal(p?.innerHTML, '1');
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-const/main.svelte b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-const/main.svelte
new file mode 100644
index 000000000000..49aef8151845
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-const/main.svelte
@@ -0,0 +1,9 @@
+<script>
+	import { get, set } from "./test.svelte.js";
+
+	export const x = 42;
+</script>
+
+<p>{get()}</p>
+
+<button onclick={()=>set()}></button>
\ No newline at end of file
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-const/test.svelte.js b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-const/test.svelte.js
new file mode 100644
index 000000000000..f0e7181c29cc
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-const/test.svelte.js
@@ -0,0 +1,9 @@
+let count = $state(0);
+
+export function get() {
+	return count;
+}
+
+export function set() {
+	count++;
+}
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-labeled/_config.js b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-labeled/_config.js
new file mode 100644
index 000000000000..904fea3f653c
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-labeled/_config.js
@@ -0,0 +1,17 @@
+import { flushSync } from 'svelte';
+import { test } from '../../test';
+
+export default test({
+	mode: ['client'],
+	compileOptions: {
+		runes: undefined
+	},
+	async test({ assert, target }) {
+		const p = target.querySelector('p');
+		const btn = target.querySelector('button');
+		flushSync(() => {
+			btn?.click();
+		});
+		assert.equal(p?.innerHTML, '0');
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-labeled/main.svelte b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-labeled/main.svelte
new file mode 100644
index 000000000000..f7cd0ede2e39
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-labeled/main.svelte
@@ -0,0 +1,9 @@
+<script>
+	import { get, set } from "./test.svelte.js";
+
+	$: console.log("");
+</script>
+
+<p>{get()}</p>
+
+<button onclick={()=>set()}></button>
\ No newline at end of file
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-labeled/test.svelte.js b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-labeled/test.svelte.js
new file mode 100644
index 000000000000..f0e7181c29cc
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-labeled/test.svelte.js
@@ -0,0 +1,9 @@
+let count = $state(0);
+
+export function get() {
+	return count;
+}
+
+export function set() {
+	count++;
+}
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-let-2/_config.js b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-let-2/_config.js
new file mode 100644
index 000000000000..904fea3f653c
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-let-2/_config.js
@@ -0,0 +1,17 @@
+import { flushSync } from 'svelte';
+import { test } from '../../test';
+
+export default test({
+	mode: ['client'],
+	compileOptions: {
+		runes: undefined
+	},
+	async test({ assert, target }) {
+		const p = target.querySelector('p');
+		const btn = target.querySelector('button');
+		flushSync(() => {
+			btn?.click();
+		});
+		assert.equal(p?.innerHTML, '0');
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-let-2/main.svelte b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-let-2/main.svelte
new file mode 100644
index 000000000000..36becde4a300
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-let-2/main.svelte
@@ -0,0 +1,10 @@
+<script>
+	import { get, set } from "./test.svelte.js";
+
+	export let x = 42;
+</script>
+
+{x}
+<p>{get()}</p>
+
+<button onclick={()=>set()}></button>
\ No newline at end of file
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-let-2/test.svelte.js b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-let-2/test.svelte.js
new file mode 100644
index 000000000000..f0e7181c29cc
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-let-2/test.svelte.js
@@ -0,0 +1,9 @@
+let count = $state(0);
+
+export function get() {
+	return count;
+}
+
+export function set() {
+	count++;
+}
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-let/_config.js b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-let/_config.js
new file mode 100644
index 000000000000..904fea3f653c
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-let/_config.js
@@ -0,0 +1,17 @@
+import { flushSync } from 'svelte';
+import { test } from '../../test';
+
+export default test({
+	mode: ['client'],
+	compileOptions: {
+		runes: undefined
+	},
+	async test({ assert, target }) {
+		const p = target.querySelector('p');
+		const btn = target.querySelector('button');
+		flushSync(() => {
+			btn?.click();
+		});
+		assert.equal(p?.innerHTML, '0');
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-let/main.svelte b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-let/main.svelte
new file mode 100644
index 000000000000..1449b7d5824c
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-let/main.svelte
@@ -0,0 +1,12 @@
+<script>
+	import { get, set } from "./test.svelte.js";
+
+	let x = 42;
+
+	export { x };
+</script>
+
+{x}
+<p>{get()}</p>
+
+<button onclick={()=>set()}></button>
\ No newline at end of file
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-let/test.svelte.js b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-let/test.svelte.js
new file mode 100644
index 000000000000..f0e7181c29cc
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous-export-let/test.svelte.js
@@ -0,0 +1,9 @@
+let count = $state(0);
+
+export function get() {
+	return count;
+}
+
+export function set() {
+	count++;
+}
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous/_config.js b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous/_config.js
new file mode 100644
index 000000000000..2d72de6d134d
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous/_config.js
@@ -0,0 +1,17 @@
+import { flushSync } from 'svelte';
+import { test } from '../../test';
+
+export default test({
+	mode: ['client'],
+	compileOptions: {
+		runes: undefined
+	},
+	async test({ assert, target }) {
+		const p = target.querySelector('p');
+		const btn = target.querySelector('button');
+		flushSync(() => {
+			btn?.click();
+		});
+		assert.equal(p?.innerHTML, '1');
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous/main.svelte b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous/main.svelte
new file mode 100644
index 000000000000..698a852ac927
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous/main.svelte
@@ -0,0 +1,7 @@
+<script>
+	import { get, set } from "./test.svelte.js";
+</script>
+
+<p>{get()}</p>
+
+<button onclick={()=>set()}></button>
\ No newline at end of file
diff --git a/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous/test.svelte.js b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous/test.svelte.js
new file mode 100644
index 000000000000..f0e7181c29cc
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/legacy-runes-ambiguous/test.svelte.js
@@ -0,0 +1,9 @@
+let count = $state(0);
+
+export function get() {
+	return count;
+}
+
+export function set() {
+	count++;
+}
diff --git a/packages/svelte/tests/snapshot/samples/purity/_expected/client/index.svelte.js b/packages/svelte/tests/snapshot/samples/purity/_expected/client/index.svelte.js
index da6fdf44d881..a351851875ed 100644
--- a/packages/svelte/tests/snapshot/samples/purity/_expected/client/index.svelte.js
+++ b/packages/svelte/tests/snapshot/samples/purity/_expected/client/index.svelte.js
@@ -8,13 +8,11 @@ export default function Purity($$anchor) {
 	var fragment = root();
 	var p = $.first_child(fragment);
 
-	p.textContent = (
-		$.untrack(() => Math.max(0, Math.min(0, 100)))
-	);
+	p.textContent = '0';
 
 	var p_1 = $.sibling(p, 2);
 
-	p_1.textContent = ($.untrack(() => location.href));
+	p_1.textContent = location.href;
 
 	var node = $.sibling(p_1, 2);