When testing the performance of WoW on the M1 Macs, make sure you turn off the "Target FPS" setting that was just added in retail WoW.
Target FPS was added to provide a smoother gameplay experience, but could give the wrong impression for the performance of the machine that the game is running.
It priorities FPS over other settings and will ignore the system settings by lowering the quality of the graphics to achieve the desired FPS.
Anyone posting FPS or experience with playing retail WoW should turn off that setting, as the default is set to 60FPS.
Just for reference, I was just getting 60 FPS on my 8 year old Mac.