I prefer mine on 3-ball settings (with Extra Balls turned on), which as snyper alluded to, you simply skip the ball 2 and 4 requirements for getting 5x Bonus. Thus, for 3-ball settings:
Ball 1 bonus 5X= knock down 10
Ball 2 bonus 5X= knock down all Q's
Ball 3 bonus 5X= knock down all A's

Hmmmm, I disagree. To collect an EB, the lit standup target is indeed a straight shot from the left flipper. Granted, you can certainly get a lucky bounce of the pops to collect it, too.

Lighting it is a whole different issue:
(1) Spell A-B-C in one ball.
(2) Complete the Aces 5-bank of drop targets.

My usual strategy: If EB's are turned on, then go for your Extra Ball! Either get the Aces or ABC.

For Aces bank: Keep flinging the ball around the Jack bank to get to the Aces bank. Plus, on 3-ball, pops are 1K/pop!

For ABC: From a cradle on the left flipper, you can shoot the ball to the right of the Jacks all the way to the top rail, which will often bounce over to the ABC lanes.

Avoid intentionally shooting the 10 and J's bank -- these are death shots.

Also, if you don't have the after-market Pascal board, get it! My wife & kids enjoy the feature of having a ball-save on JP -- which tends to serve up plenty of house balls. And setting the Special for 50K points is also a nice alternate strategy/points cash-in.

With those scores, I'd encourage you to change to 3-ball. Typically, the rule of thumb is 3 balls for solid state pins, and 5 balls for EM's.
But it's your pin, so set it how YOU want it.

My high scores on my JP are all 1MIL+ set on 3-ball with EB's enabled through gameplay (not from score thresholds). I also set Special to award 50K points instead of replays.

Enabling the Skill Shot also adds a nice nuance to the plunge to intentionally go for A or C, whichever is lit for the skill shot.