You will bump up status almost immediately when you cross your threshold of MQMs / Segments. For PM you will need to cross the 75K MQM and from what i have found since they changed systems about a year ago, the status change will take place sometime that evening. This used to be on Saturday mornings.

I have also found that you no longer have to remove your SM number and add back to existing itineraries any longer.

As for MM, congrats on making this significant milestone. If you are already Gold, this will not bump you to the next level, you will still need to fly/earn the appropriate MQMs to make the PM status.