An easy question please...
With the power module priorities, is priority 1 best and priority 5 the least?
ie... set shield and laser power to priority 1 and something like scanners and life support to 5?
Lower number = higher priority.
If you are juggling with priorities in order to make the most of the power plant, you shouldn put scanners and life support on higher priorities. Otherwise, deploying the weapons might immediately start the emergency oxygen countdown, and turn your sensors off so that you can't even target other ships.
FYI, my priorities are usually 1: engines, life support; 2: shields, shield boosters, sensors, power distributor, heat sink; 3: weapons; 4: utility and discovery scanners, SCBs, chaff; 5: FSD, fuel scoop, interdictor, cargo hatch.
Recharge rate is linked to shield class.
This has been demonstrated to be wrong. Shield recharge rate is 1MJ/s for all ships, and shields. It just seems faster because there is a smaller shield pool to refill in a smaller shield.