Since I never settle for remaining a minor through the game, I usually neglect Trade and invest on Production and Land technology; the several pre-built universities across Europe usually take care of Government. Naval technology isn't half as important as Land, specially so since AI navies are suicidal lemmings who will engage you individually and/or in small stacks. Unlike land battles, naval ones have more permanent effects; once you win a naval battle against a nation's main stack they are usually done for, unable to ever compete with you again for maritime supremacy.
As for the sliders, I always go for Centralization/Free Subjects/Offensive, whereas the rest depends on the overall scenario. I usually start biased Narrowminded and Aristocracy, at least when playing as an european nation, since controlled cardinals and cavalry play a heavy part early on, then switch ti Innovative/Plutocracy as the game moves on. If playing a non-western country, Innoovative gains an whole other degree of importancy, as per Westernization's requirments and the already lowered technological levels. The choice between Mercantilism and Free Trade depends on the nation, really, but I always end up opting for Mercantilism later on as I start annexing foreign CoTs. Between Land and Naval, I usually opt for some degree of balance, at least until there is no navy even remotely capable of opposing mine; then I go full Land.
Level 5 or 6 Diplomats and Masters of Mint are a must; the 3rd one is usually a High Judge or an Ambassador. The first helps with nationalists, the seconds hurries up diploannexation of the germanic and italian minors.
Edit: Quality over Quantity.