I've always heard it referred to as "shaking hands with Abraham Lincoln". But I guess it works just as well with Uncle Sam.
http://www.definition-of.com/shaking+hands+with+Abraham+Lincoln
The cable should be oriented in the direction in which the cable naturally falls away from the chassis. If it tends to cross over the circuit board then it is oriented backward.
The manual has instructions for adjusting the +5. Have you tried looking at that yet? Here's a link.
http://www.arcade-museum.com/manuals-videogames/J/jhunt.pdf