Surprisingly, the battery lifetime is still excellent.
I think Parallells give you more, but I do a big window in UTM over 2 displays which works quite well and doesn't break rest of the OS X flow. Mic doesn't work, you occasionally have correct audio output, but OS X audio daemons sucks so it's a crapshoot if you get audio and where/how it's output. You don't get 3d accelleration I think, but haven't tried. It's not for games or Teams (neither is OS X).
But it works reasonably well for software that runs on arm64, which on Linux may limit you a bit. But you get to make things work either on OS X or Linux arm64, and the rest works well. You may not notice much overhead compared to OS X on M1+.
As with everything, you can make it work for you, but it's not for gaming, CAD, some proprietary or limited projects, etc. Should be fine for development and sysadmin stuff.
If something works on Linux arm64 on M1, it's quite well supported you might say. So you get to weed out some fluff, but also some nice things.
https://developer.apple.com/documentation/virtualization/run...