Minor. If all issues are Major by default, "Major" doesn't make sense anymore ;)
You are likely to see only a small percentage of Major issues in any aplication. If not, you should consider using some other app!
Depends on your business process and your user habits. Quite a lot of places I've worked set it to "trivial" simply to goad them into thinking about it.
I'd absolutely agree with Jobin in that the default should be below the mid-point in your list or it degrades the importance of "major"
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