I have done a ton of experimenting with the T5. I play at church so the board is EQ'd by a professional. I have no clue what its at but i can tell you what i run.
T5 with Elixir 12s (electric). Tubed pre amp (around $30) has made a huge improvement on my acoustic tone. I bypass my pedal and run to the PA. Of course, i use a ABY.
For electric sounds, I have a 15 watt Vox tubed amp. The pedal I am using is the Digitech RP500 and i am loving it. I get comments and questions nearly every sunday after worship. The other electric guitarist plays on a strat with stomp boxes and the same 15 watt vox amp as i do and we sound very similar. I have spent hours upon hours on the electric tones on my pedal. He has a better crunch than i do, but i do not crunch often. My role is acoustic when needed and electric leads, solos...etc with some crunching. anyways, back to the acoustic sounds.... I have no EQ on my board when I run acoustic (bypass everything). I use position one but have not tried 2 or 4 for strumming yet. I am very pleased with my sound right now.
The tubed pre amp has helped me so much. The one that I have is the ART Tube MP Studio V3 Mic PreAmp. Its only $30. worth a shot IMO. If it doesnt sound how you like it, return it. No risk.
Also, I am not sure if anybody has mentioned this before, but the type of 1/4 inch you use makes a difference as well. When i first started to play on stage, they gave me Live Wire cables to use.....terrible. Cheap and always short out. Currently, I use Planet Waves with one right angle, the other male end straight. it was about $35-$40. IMO, you shouldnt play on a cheap 1/4 inch if you are playing live. Worth the investment and Planet Waves comes with a lifetime warranty.