I'm NOT asking you to show me your setup. I just want to know how your Mac Studio setup went and if there were any gotchas.
Leo Laporte went through on that TWIT. It looks like the best thing to do is delay that 12.3 update until after you have setup the Mac Studio. (I don't own one, just observation based on other user experiences).I had to update macOS Monterey during installation, which took about 30 minutes with the computer turning off and on two or three times. There is an option to defer the update until after installation. Looking at posts in other threads, it appears that some people didn't need to update.
Like @Avenger (post #2), I discovered that File Vault was turned on as part of the install. I didn't see File Vault as an option during installation, although maybe I missed it. I've since turned it off.
I had no other "issues", including with Time Machine (see post #3), for which I created a new APFS volume on an existing disk. However, it was my first Time Machine backup that alerted me to the fact that File Vault was on. I got a pop-up warning that my Time Machine volume is not encrypted.
My Ultra has 12.2 and says it's up to date when I tell it to check for updates. Also didn't ask to update to 12.3 when I initially set it up.Set up went smooth here. I skipped the 12.3 update until after I got to the desktop. No issues. File Vault didn't turn on for me.