In the House of M reality, Strange was unable to preserve his own memories, becoming a psychologist in this reality (a surprising desire of the heart, unless Strange was not one of Wanda's friends, though it is revealed later to the New Avengers that Strange's true spiritual nature was indeed a medical life).
Stephen Strange became the most successful psychologist in New York City, being an expert in most psychological disorders, but dealing almost exclusively in the new human distress condition known as "Dead-End Syndrome", an extremely profitable field in which he excelled.
Even Strange was overwhelmed by his powers, when the latter emerged to the main reality after the events of the House of M.
The position of Sorcerer Supreme was in the hands of another, more sinister man, who served as a powerful enemy of Ms. Marvel, by the name of Warren Traveler. Armed with the Eye of Watoomb, Traveler was a man whose magical abilities were extremely high, yet threatened to drive him insane.