If you get below 38 in Spesh (we are talking raw), you can sit an advance placement test to gain access to AM. When I asked the pros and cons between the AM path and the standard path, the maths faculty was surprisingly adamant about me doing AM. I did Calc2/LinAlg because I wanted a good GPA to go overseas but otherwise I would've taken AM. I think they just wanted more enrolments for the class.
I've taken a look at exams for AM1 and it looks incredibly similar to Linear Algebra, except the questions are a tad less intuitive and it includes partial differentiation which is a Calc 2 topic. AM2 has real analysis in it and looks a quite a bit harder than Calc 2 (WTF is a Riemann Sum? I'm pretty sure it's an integral type thing). All in all, you would've be too disadvantaged by doing the standard maths stream, just know if you do the AM one, you are risking a lower GPA for the same effort.
A mate of mine in Calc 2 got ~42 for spesh, and only got 65 for Calc 2. It's only one example but just something to keep in mind.