There is a lot of chatter about how the Leica Monochrome files come out of the camera 'Flat'. I would tend to agree that the DNG default curve applied to these files is definitely of a linear nature. However, I have found two things while working with these files for the past month. First, they are very, very workable, either in LR alone or a combination of LR and Silver Effex Pro. Second, the amount of detail in these files, especially in the shadow areas is nothing short of amazing.
Here is a before and after image with the before file representing my standard MM Lightroom Import settings. A small amount of contrast, a slight curve, clarity and sharpening are all applied on import. From there I do my basic adjustments in the LR development module and then import the files into SEP where I have tremendous control over the entire B&W file.