I am also very close to taking the plunge. I have a 2017 MBA that works without any issue, but I buy my devices on a schedule so I replace the older ones when I can, in order not to put too much cost on my credit card at once. So I try to rotate the devices to avoid buying the iPhone, iPad and Mac at the same time. I've just paid off my XR and my sister's Galaxy S10 so the funds I allocated on my credit card are now freed up for the new Macbook and I think Apple Silicon comes at just the right time. I plan on replacing my iPad Pro 10,5 in two years so now is the time to buy the laptop. In addition to this, I use Apple stock apps a lot so Apple Silicon will fit me like a glove as I would very much like to have a laptop that can run iOS / iPadOS apps that I use all the time. All in all it seems like it came at just the right time, and I don't have to worry too much about initial software compatibility as it will be solved eventually, and I'll still have my MBA on Catalina to fall back on.
Now I wait for the reviews, just to see if there are any major let-downs or design flaws that would stop me from buying, though I don't anticipate anything like that because Apple has kept the form-factor so that should go a long way to preventing possible issues. Also, as others have already noted, we can hardly expect any significant improvements to this in the next couple of years, and by "this" I mean the MBP 13 and MBA. Now come the 16-inch, iMacs and the like, with more advanced M-family chips and 32GB and upwards of RAM, which is not what I need and I wouldn't buy it even if it were available now. Aside from the extra RAM and the extra cost that I don't need, all of that will not fit me because for my use case and lifestyle, I have to go portable so only the MBA and the smaller MBP fit These particular entry-level laptops will not be updated in the near future because Apple will now have to take care of the pro-tier of machines and transfer its efforts over to the desktops as the M chip matures. I can only see them coming back to the MBA/MBP13 once they've gone full circle and that will take longer than I can wait. So I don't really see any particular reason not to make the purchase now, everything seems to have come together provided that the laptops don't disappoint in some important way that ends up being a deal-breaker. We should know soon enough and I imagine I'll be buying a MBA or a MBP in a couple of weeks.