I have 5 pilots right now.

I manage the "waste" issue by having different people targetting different things.

My main pilot (in a vulture) and my first alt (was in a drake, just recently got a tengu) focus on the smaller targets and work their way up.

My 2 alts (also in drakes at the moment, just recently got ravens but havent flown em yet) focus on big ships and work their way down.

I find at this point the big stuff is usually down before the small stuff.

At any rate, there is not a lot of wastage because I manage the targets thusly.