I've been on M1 since last year (Switching from a 2015 MBP) and while there have been some issues, the transition has been going fairly swiftly. The main one I had to deal with was some google library embedded inside React Native Firebase. But the fix was fairly easy (setting XCode and Terminal.app to open using Rosetta). My Mac Mini is enough for daily work and my MBA is perfect for personal uses, never getting hot, even with multiple applications opened.