MarkXS - your analogy for Alaska is quite good!
All: When evaluating for a Mileage Makeover, is it not important to find out early on the OP's desire for "point miles" (spendable points) vs "status miles" (accrues status benefits)?
In the OP's example, if the 185k NW balance is spendable points earned on a credit card, and the 124k balance is seat miles on US, the recommendations might be quite different. OP needs to add more details.
Another imporant point mentioned already is How Fast does the OP need to move, especially on the larger balance items?
OP: Make a chart and design an Action Plan with deadline dates, or you risk losing your balances all together.