Here's a copy of my settings. I hope you can read it and I hope it is helpful. It's in an excel spreadsheet if you want a copy.

LOTR settings (resized).jpg

#8 RING MULTIBALL EXTRA BALL MEMORY : Set to YES or NO. Default is NO. When set to YES, this
feature bonus (Ring MB EB) lit will be retained in memory from ball-to-ball for the same player. When set
to NO, this feature will go out at the end of each ball.

#9 RING MULTIBALL SPECIAL MEMORY : Set to YES or NO. Default is NO. When set to YES, this feature
bonus (Ring MB Special) lit will be retained in memory from ball-to-ball for the same player. When set to
NO, this feature will go out at the end of each ball

#33 CAVE TROLL SEQUENCE: Set to ON or OFF. Default is OFF. If set to ON, game adds the Cave Troll
sequence to the start of The Fellowship of the Rings Multiball. If set to OFF, it goes straight to Balrog intro

DTR 2 balls may be preferred but I suck at pinball so I try to keep it simple for me

I am not really sure. I just left it where I got it when I bought the game. But from the manual . . . .

53 FLIPPER ADJ 1: Set between 05 to 40. Default is 10. This adjustment sets the minimum fire time for a
flipper coil in milliseconds.
54 FLIPPER ADJ 2: Set between 40 to 60. Default is 50. This adjustment sets the maximum fire time for a
flipper coil in milliseconds.
55 FLIPPER ADJ 3: Set between 0 to 10. Default is 3. This adjustment sets the amount of time to fire the coil
after the EOS switch is seen in milliseconds.
Standard Adjustments 53-55 Note: Flippers will now fire when the button is pushed until the End-of-Stroke (EOS) Switch closure is
seen. When EOS is seen, continue firing for the amount of time in Std. Adj. 55. When this time is expired, if the minimum time has not yet
been met (Std. Adj. 53), then keep firing until it has. Otherwise switch to hold power. If the flipper has been firing and it reaches the
maximum (Std. Adj. 54), then switch to hold power. If the flipper caves-in (EOS re-closes) while the button is still held, then refire the flipper
at full power. Switch to hold power as soon as EOS is seen, no minimum times are enforced in this situation. If the flipper caves in several
times on the same single flipper button press, then stop refiring at full power and just stay at hold. If the flipper fails to open the EOS switch
several times, then assume it isn’t working and fall back to a "safe" fire time so as not to burn up the coil.

I believe if you have one light up (extra ball), and you drain the ball, the light goes out on "no" so you lose the chance at the extra ball but if set to "yes" the light will stay on and you can shoot for it on the next ball and possibly get an extra ball.