It looks to me like the only choices for the AEB bracketing are either three or five exposures - but with no control over the actual shutter values. Is that correct?

Shooting with the 3 exposure setting doesn't give me a wide enough range for what I want, but I'd rather not have to shoot 5 exposures if I don't want to.

Am I missing something?

You can't.  People have been asking for this change for years.  AEB is stuck on 2/3 of a stop.  You need to use 5 shot AEB and either marge all 5 or just pick the 3 well spaced.  A better option is to manually bracket and not use AEB at all.
On the M2P 5 shots at 0.66 is usually enough (not always though).  The limited range of the M1/M2Z means a lot of the time even 5 shot AEB doesnt cover enough range.

One tip I found, if you are doing a number of AEB shots that are similar take a picture of the ground in between.  It helps identify the set.

DAFlys Posted at 9-4 01:39
One tip I found, if you are doing a number of AEB shots that are similar take a picture of the ground in between.  It helps identify the set.

You can.   Another method is in lightroom set it to stack images by capture time and set 2-3 seconds.  
That way unless you;re machine gunning all your pano and aeb images are nicely grouped.

I do manual bracketing and manual pano due to the fairly big limitations of DJIs auto mode.  I shoot the ground before and after each one for that reason.  On my ground based cameras i shoot my hand instead.

Thanks for the great responses!!

I like the auto bracketing feature as a time-saver. I do real estate listings, and so need to get a lot done quickly. My photos/videos need to look as good as they can, but they're produced within a definite time constraint. I find that the 5 image AEB gives me the dynamic range I want, but having to sift through the 5 and dump the 2 I don't need is a time waster.

Just about all I'm doing these days is finding ways to streamline!

So I prefer auto-bracketing, and then processing the raw images with DXO PhotoLab, then getting to the HDR stage using Corel's HDR merge batch process tool that comes with AfterShot Pro. Then final tweaks photo by photo in Corel PhotoPaint and occasionally composing with layers in CorelDraw. (I only use Adobe products for video editing - strange but true!)

Trying now to find a way to automatically search and keep those three exposure times while dumping the unnecessary exposures into the trash by scripting an EXIF search feature into XYPlorer, the file browser tool I use in Windows.

You could script that into a batch script using EXIF tools fairly quickly.

5 isnt going to turn out any worse images than 3 so no reason really to ditch.  It depends whether 5  x 0.66 stops is actually enough.  For houses it probably is.  For sunsets over water, maybe not.

Lightroom is the answer! Finally took a look at it! Duh. So easy to search for and isolate the exposure times I want!

Sometimes it takes a convoluted path to get to the simplest answer...

One of the most requested features for years and DJI still doesn't implement it... Bloody useless.

gyrex Posted at 9-14 03:11
One of the most requested features for years and DJI still doesn't implement it... Bloody useless.

Its also likely one of the easiest requests - changing a number in one line of code with zero knock on effects.  Its quite literally a 10 minute job!

gnirtS Posted at 9-14 04:11
Its also likely one of the easiest requests - changing a number in one line of code with zero knock on effects.  Its quite literally a 10 minute job!

I find it’s very strange that this could be sorted out so quickly, this camera had engineers and designers from hassleblad working on this camera, I somehow would find it strange that this would be an oversight , maybe a moderator can get the message to engineers for confirmation on why this cannot be changed, I see the real benefits that are possible and wonder if maybe it’s not so simple, I don’t possess much knowledge on this matter.
Maybe dji Mindy will organize a response from the powers that be in dji .

Its been requested for years, Phantom 3 i believe (certainly 4 onwards) have all had AEB hardcoded at 0.66 stops.  So they just reused the code for drone after drone.
They've been aware of it for a long time but dont see it as a priority for some reason.

gnirtS Posted at 9-14 14:04
Its been requested for years, Phantom 3 i believe (certainly 4 onwards) have all had AEB hardcoded at 0.66 stops.  So they just reused the code for drone after drone.
They've been aware of it for a long time but dont see it as a priority for some reason.

I suppose my point is, if this is simple why has it not been done as you have said and I’m also aware it has been requested many times before, so maybe it’s not as simple as we think to implement, we have seen over the years many extras included which are of no use to many , unless it’s just an oversight but it’s been going on for a long time now.
Maybe next update .

Im not convinced DJI has any real system for reporting customer feature requests at all.

And ultimately i guess the people asking for it are a small number vs the number of people that actually buy and use the drones.

Im not even sure if the AEB function is firmware based or Go4 app based (i havent looked in the SDK).  Even if it is firmware based, its trivial to write a software function just to take 5 photos at XX exposures quickly.  I think Litchi does it.