Out of the 5 major parts of an application, what do top colleges consider to be the most important?

Here is the issue, it’s not that grades/scores aren’t the most important things, it’s just that it’s hard to “stand out” among all the other 4.0/34+ applicants. There really are a lot of them. Without something truly outstanding in your application there are only small differences when it comes down to those admitted and those rejected. Those differences can easily be ECs or essays or in some cases a LOR.