I have a 2019 base i7 6-core MBP 16".
And just got me a brand new 2020 M1 MacBook Air, 8-core GPU, purchased on the Apple Store website.
Both machines have 16GB of RAM and 512GB of SSD.
I'm surprised that, on my tests on a Handbrake "x265 preset=slower RF=15" encoding, my 2019 i7 MBP 16" outperforms the M1 MBA by a margin of around 20% in speed, both machines tested with a 30cm fan at maximum speed pointed directly towards the MBP or MBA trying to cool it down.
The MBA speakers are very bad, of course I expected them to be worse than the ones on my 2019 MBP 16", but it's even worse than what I expected, I'm really disapointed.
Overall, I don't think the M1 MBA is a good 2019 MBP 16" replacement, I guess I could live with the smaller screen (13.3" vs 16"), but the horrible MBA speakers make it very dificult.
My 2019 i7 MBP 16" is still a great machine and I really like the Touch Bar, I customize it with a "Show Desktop" button, it's very useful.
Not excited about the MBA redesign if it will make it more expensive while still keeping the horrible speakers and make it lose the wedge shape which I really love and is one of its best advantages imo.