Your status will update on the MP summary once the qualifying EQMs post. However, it takes about 3 days for the reservation system to catch on.

The new status will apply to all segments after and including your qualifying segment.

Back when I was 2P (with about 2k shy of 1P and a SIN trip booked), I tried to get that 1P comp. Talked to 3 agents and none of them budged. There have been people on flyertalk who got that comp though. I guess it all depends on the agent/supervisor.