Quoted from smassa:
IM is A very hard game but I think when most people describe "everything has to be done on 1 ball" it's a little misleading.
It is. What people are referring to is simply the Do Or Die "mode". If you start all five objectives at once, you get Do Or Die mode, where you have a countdown to make one shot on the playfield for HUGE points.
It still doesn't make it one ball though. You can set up everything for this and be just a few shots away the ball before, and your progress does not reset. In fact, that is often what I find myself trying to do - if you can get the stacks just right, you can get to this mode... but it's quite hard.
What I consider to be more of the actual wizard mode is Jericho. Jericho is a one ball mode which is started after you successfully light six Marks near the bottom of the playfield. You light one mark for each task - one for spelling Iron Man, one for rolling over all six lane roll overs, one for starting Bogey, etc. If you manage to do all six of these, Jericho is lit in the middle.
Personally, I consider Jericho the Wizard Mode even though I understand why a lot of people don't. It's relatively easy to get to as a Wizard mode on such a mean game, but the fact Do or Die is much tougher makes people consider it a Wizard mode instead.
If you think you're really good, there is a Do Or Die Multiball that becomes available once you have done an insane amount of stuff. Collecting Super Jackpots in the multiballs, collecting Drones I think three times and spelling Iron Man four times... these are no easy tasks, and absolutely no one that I know has been there with the glass on.
CFTBL is an awesome game, and if you like it and BSD, IM should be right up your alley. In my opinion, an IM set up correctly will make the CFTBL seem easy by comparison.