Just wanted to check with you guys if I do have things under control or perhaps
am missing something.

When installing SLES11 on servers with SAN disk (including boot disk) I'm
under impression that all that is needed is the following.

When starting the install supply the mpath kernel barameter.
When partitioning the disks, click configure to activate Multipath.
Select to default mount disks by id instead of name
Partition the boot disk (note the disk id), preferrably with LVM
Under booting|Boot loader installation details make sure that the boot disk
is the top in the list (use the id noted when partitioning).

This will give me a working boot and multipath config right or am I missing
some vital steps?

One can then set up aliases in multipath to ease things, but AFAICT this
is not necessary.