I have a 15.4” 2.6 6 core i7 with 16 gigs, same specs, and it absolutely flies right along. I do mixing and mastering work. However, I have heard the M1 chips absolutely scream. Another huge upgrade will be, if you had a regular hard drive before, having the solid state drive makes such a huge difference in how quickly it’s able to access.
The M1 is going to be faster than any of the Intel options, especially once apps get updated with ARM-native binaries. But lack of upgradability is a potential issue.