From the trailhead parking spot, ascend on tundra slopes with just a few trees to the saddle directly north at 12,180 ft. Drop down on the other side losing about 600 feet elevation as you head for Megan Lake. Follow tundra benches created by the underlying tilted, sedimentary strata gradually dropping to the left towards the lake. Avoid willows for as long as you can, but eventually you'll have to slog through a few. At the lake, there are some very nice campsites in the trees. Once at the lake, there are really several options depending on your overall objective for the day. The south facing slopes of Spread Eagle and Peak of the Clouds are covered with a lot of tundra. We decided to first climb Spread Eagle Peak and then follow the connecting ridge over to Peak of the Clouds. To do this, at Megan Lake, you can clearly see a pronounced "rib" of rock & tundra that descends from the Spread Eagle/Peak of the Clouds saddle to the north east end of Megan Lake. This "rib" is easily identified on the USGS quad. Cross the creek just below the lake outlet. Simply follow this rib to the saddle amid a collection of ancient Bristlecone Pines that are twisted and swept into all kinds of interesting shapes by centuries of being blown by the high winds that often sweep across this range.
At the saddle, turn right and head for the Pt. 13,165, crossing over it and dropping to another small saddle (or contour around on the south side). Beyond this saddle, the route becomes rockier. Head up the ridgeline, staying on the left side for a while and then right at a "notch" location. The final few hundred feet will become steeper offering a natural ramp that leads over blocks of rock and some other tundra ramps that will lead to the rocky summit. Time from vehicle - about 2 hours. Gaze down upon the multiple "lake of the Clouds" below to the north and admire the sweeping views of the Wet Valley and the Sangre de Cristo range as it stretches out both NW and SE.
Return by the same route if only doing this summit. If trying to bag more peaks this day, head on over to Peak of the Clouds by the connecting ridge. This is no more than Class 2+ hiking, and from there continue south on over Rito Alto and then down to Hermit Pass. Close the loop back to your parked vehicle.