Traded in my 2019 6-core i7 16" with 512GB storage and 64GB RAM for a 10-core M1 Pro 16" with 1TB storage and 32GB RAM. I got over $1,200 trade in value, and given how much I used the older machine over the two years I had it, I feel that was very fair. My ETA is 11/5.
RAM hasn't been my limiting factor in some time, and I have no use case for the M1 Max GPU cores and video processing oomf, so the additional fast SSD storage is way more appealing to me. Those read/write speeds are intense. These are very appealing systems - they tackled a whole laundry list of issues I had in one fell swoop.