1) As long as you hit that 1 right spot on the object ball, you will pocket it, right?
No, there are many possible spots that you can hit the object ball to make it go it. The spot is dependent upon speed, the rails, cloth, humidity, stroke, english and more.
2) You should never bank because it's low percentage, right?
Not never, but only when it makes sense and there are definitely times that it does.
I. Cut angle influences bank - 3 test shots. For example, when shooting a cross over bank, aim to miss short to make up for collision induced throw or use outside english.
II. Slide vs. Rolling cue ball - 3 frozen balls (Robert Byrne's)
III. Classic 2 rail bank & 3 rail bank in the side
IV. Cross bank combo using throw. 2 frozen balls 1 balls width from rail
V. Double bank with OB on the rail by side pocket with inside english to avoid double kiss
Line of Banks - straight in medium to hard speed - a straight in bank is an easier bank but your stroke has to be right to execute it properly. This drill requires a lot of concentration and relaxation.
Play Bank Pool - It's like straight pool but you must bank all the balls.