It is a very good strategy to have both M&M and another "easier" *G card. The M&M SEN card is valid for two years, not one. SAS has cheaper awards (no taxes on awards).
So first get gold on SK if you can make it this year. 2011 you try for SEN-hood in M&M while using your SK gold to get in the lounges. 2012 you credit all miles to SAS, 2013 you requalify on LH and so on.