M-Class light cruiser - München *Done*

Chase would be better, then.

If the goal is the Loan Raider SA, I'd also argue for something that also allows for some kind of forward deployment.  Without it, given the weak armament and relative vulnerability of a light cruiser, no body is going to take this in the presence of a serious air threat.  Light cruisers (of the 10-13 point variety) are virtually extinct in competitive play unless they bring something genuinely unique to a fleet.  

I'm not a big fan of the Lone Raider SA, as it encourages the unit to be operated in a sector by itself. which is kind of begging to get smashed by an air attack or a submarine.  

I guess it kind of depends on the ultimate objective of the unit. Chase + Lone Wolf = a very (I mean that) interesting Scenario unit. Raider + Establish Screen = a very competitive "standard game" unit. Depending on your perspective, neither is "wrong". It just depends on what we collectively want out of the unit. Truth in advertising...I only rarely play "scenario" games, so I tend to lean more towards the competitive value of a unit, but I acknowledge there is a place for both. All that said, a ship with Lone Raider + Chase (and nothing else) at around 10-11 points isn't going to see a lot of table time in my gaming circles.  In my opinion, a ship with Establish Screen for the Germans would be more valuable in competitive games, and would likely see more use in those venues. I won't lose my mind if this ends up being Chase + Lone Wolf...I just don't know that I would use it much.  

Just my 2 cents.

I would be fine with Raider + Establish Screen. I was just trying to find something a little more unique. Hard to do at this point. At least it doesn't have mines!

What about these as the SAs?

Chase: At the end of the Sea Movement phase, if there are no enemy ships within range 3 of this unit, you may move this unit one sector toward the nearest enemy ship

Raider: This unit rolls one extra attack die when making Gunnery attacks against Destroyers and Auxiliary units

Lone Wolf: When this unit is the only unit in the sector, planes must succeed on a search roll (per the darkness rules) in order to be placed in that sector, otherwise they are automatically aborted.

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This version of Lone Wolf gives it some protection from air, none against surface or fleets and uses existing rules while alone in a sector. It is a watered down version of the Disguise SA that the German Fleet already uses for its Auxiliary-Cruiser infiltrators. It obviously would need to be playtested.