I think
@bunnspecial has an M1?
Yes, I have had one since the end of March.
I primarily use Lightroom and occasionally Photoshop.
My configuration is MBP/8gb/512gb. It was a BIT of a shift for me and I upped my Dropbox storage when I got the computer partially for photo editing. I came from a 2012 15" and had 3TB on-board, so felt it was a good solution.
First of all, I can say ignore the reviews that say 8gb is enough. If I had it to do over, I'd have gone 16gb.
TBH, the first couple of months of use it was painful and a step down from my 9 year old computer. The only thing really faster in Lightroom was the NEF to DNG conversion(on 36mp files from a D800 or D810). Browsing was slow, rendering was slow, and most adjustments had a pause after making them. My old 15" didn't do any of that, and more than once I pulled it back out just to make sure I remembered things correctly. Also, I COULD NOT leave LR running in the background and have any hope of doing other stuff. A lot of this seemed memory bound, and I'd regularly see pressure hold over 70% and spike to 90% when using LR or even with it in the background(no leaving it running until I'd finished with a batch of photos).
The M1 native version was a game changer, and it's now as ridiculously fast as everything else on the M1. I think I'd still benefit from more RAM, but it's more than useable. The experience editing now is excellent.
I still have yet to calibrate as my old ColorMunki Smile has now been deprecated. It took a little while for X-Rite to come around to getting anything to work on an M1, but as I understand it that has now been fixed.
I suspect that a lot of these little annoyances and quirks you might find in older programs will be fixed in the next few months as more things become native. With that said, I'm ready for a 16". Even though I run the display at the same resolution as my old 15"(1680x1050...I had the HR-AG display), there's still something to be said for physical size and not just screen resolution when editing photos.