Would love to hear about how the jump is for you, as well as what kind of work you do? I'm coming from a similar machine. I'm guessing from the VEGA FE that you're doing some kind of graphics or video work? (I'm in audio, but also use FCPX and Capture One)
I'm working with graphic design, photography, coding (homepages and webshops) and the occasional event (video).
It's clear the single threaded performance just wasn't cutting it anymore with the M1 cores being so much more powerful. That can definitely be felt in my normal workflow. The power efficiency is also something else. The highest package power I've hit is around 65 Watt, using both tasks for the CPU, GPU and neural engine simultaneous. The VEGA FE alone would hit over 400 Watt on some tasks.
I guess the only reason I kept on to the old Mac Pro was the fact that I felt the 2019 Mac Pro just clearly wasn't for me and could never justify the entry price / performance ratio. I disregarded the iMac Pro and iMac as well, as I bought a Dell UP3218K (7680x4320 pixels) 8K monitor in 2018. Unfortunately it doesn't play nice with macOS and the M1 chips, so it will exhibit timing issues which can only be resolved by reconnecting it several times at
every boot. It frankly sucks but I can't imagine myself downgrading to 5K or 6K.
I use Adobe CC, so only have experience with Adobe Camera RAW. The 32GB of RAM in the base model Mac Studio can be a limitation at times, especially when doing heavy focus stacking.