I don't like this either. It's a big pain. Maybe FL2 will have this option. I'm glad there's a hotkey to switch between targets but sometimes it's tricky because you hit 'T' and it give you the next target, but while your flying around the order of your contacts changes so you have to cycle though the whole list a couple of times. It's a minor nuisance but I can't think of any way to improve it.

Let's get those missiles ready to destroy the universe!!

I didnt noticed it mattered who I would take out first. Can you explain this?

Some one in a titan said; "I'll cook your Hammer Head in no time." Last thing I heard was "crashhssss"

What they are talking about is the targeting mode, which is basically the wireframe mode for the ships. In this mode, you can target certain things, suck as engines, sheilds, guns, or fins. The red crosshair will automatically change it's position to correspond to the thing you are trying to take out.
Too bad there isn't a hotkey. I'm fustrated with this too.

Well you can't target Turrets etc on battle ships, so doesnt need one. but yes switching targets or the target listing needs fixing if nothing else.

To have to mouse click the window target list options, to change the type of target listed can make it the difference betweeen living and dying.

I'd also like a hotkey for 'select current waypoint' - I wonder if this is moddable?

Switch to Target is such a useful feature especially in MP. Cripple them before you kill them I say. If anyone from DA reads this - give us hotkeys for "switch to target"