I bought an m3 iMac a couple weeks ago and used my time capsule to migrate everything. Worked perfectly!

I still have my little AirPort Time Capsule tower. It’s been nearly a decade and that thing has been dutifully backing up my data every single day, save for a few hiccups over the years. I switched it from hourly to daily to maybe get some extra years out of it, but man. I absolutely love that product. The NAS marketplace even to this day hasn’t made a product as simple and seamless as the time capsule - plus it’s a great router!