I spent some time in the Apple Store comparing the 16 PM and the 16+ and I came away pretty impressed with the 16+.
The lack of 120hz was noticeable for me (scrolling text being the most obvious in a browser).. but it's only when you try and read it and scroll simultaneously. If the text is static.. no difference. Im sure Id get used to it. My Studio display is 60hz, and I use that all day without any issue whatsoever.
The 16+ cameras.... 2x crop zoom is good enough for me. Not sure I care too much about 5x, and definitely do not care about the new UW on the PRO that people say still can't capture enough light. I hardly use the UW lens. My current phone doesn't have AOD and not sure I need it/want it. I prefer how Android models do AOD, not just a dim screen like Apple's implementation.
The most noticeable difference is the weight. Very much in favour of the 16+. The 16+ is also a much more beautiful phone than the pro as well (if you care)
The main issue I have really is that the 16PM is £200 (UK) more than the + for say a 256GB model. That's not a huge amount for the extra stuff (zoom lens, 120hz, AOD display. Probably would not notice any of the other stuff like CPU, faster USB etc)
Still undecided to be honest. I have a 13 Pro at present which has 120hz, but Id like a bigger screen. Getting a 16PM is £1200 and the 16+ is £999. Add on Apple Care , case, screen protector ! (Ive always used AC it so worth it for me), and the 16 PM is starting to scream 'how much ??!!!' which makes the 16+ a possible option to keep costs down.
Or I just keep on going with the 13Pro which is in mint condition and see what Apple comes up with next year.