The Double Broadside mode (first cannon shot award) is very valuable. Shots to broadside start at 1M and double each shot up to 32M for 30s.
During a "Polly says" after hitting broadside, mash both flippers for a Polly Killed 2M bonus.
During the Walk the Plank video mode, the flipper buttons also swim. You can probably swim faster using those instead of the fire button.
Spot L-O-C-K letters from inlanes or left Pirate Cove shot. Shoot Pirate Cove for MB. Lock both balls into the Pirate Cove for 3-ball MB.
All ramps in MB spot SINK SHIP letters. Completing SINK SHIP opens the upper ramp for a cannon shot. In 3-ball MB ramps spot 2 letters.
Sinking ships is primary goal. Light (and stack) SINK SHIP from MB or cannon shots to lit shots. Load cannon under ramp and shoot broadside.
Shoot the cannon to sink ship if lit, but otherwise don't always shoot up middle. Shoot flashing shots to spot letters and get awards.
MB can be set on easy to hard. On hard mode the ramps alternate flashing (starting with the left ramp) to give one SINK SHIP letter.
During cannon shots, ball can be rebounded across multiple target banks for extra letters
Completing all 'modes' lights Jackpot, 30 million in tournament mode. With each mode being ~3mil+ with hurryup, can be viable strategy