Judging from the above list - This would mean that all others would be waiting 1+years for a payment. based on previous payouts, it will take him a while to pay Freejack Alone - Let alone the others. I am for the First Come / First Serve BUT we should try to get an initial payment out to everyone first - before second payouts.
IE: Start on the list with First Come First Serve - and send out an initial .25BTC until entire list is fulfilled. Then start at the top again and pay an additional .25 BTC going down using First Come First Serve. (Would need to take a snapshot of the list - and anyone who adds after this point would need to wait until 2nd round)
I think this option is the most fair one.