A few more observations with this new M4P 14" MBP.
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It arrived with 15.0. After MA had done its thing I was prompted that updates were available and sure enough, 15.1 sat right there ready for download and install. I recall many years ago (2011?) MA refused to migrate from an “old” Mac to a new Mac because on the old I had just installed a dot update two days before the new Mac arrived. I first had to update the new Mac (which then led to a UID mess after MA, which is why I still remember the incident) until MA was willing to migrate. Apparently MA is much less picky these days — it migrated my fully up-to-date 15.1 M1P to the out-of-the-box 15.0 M4P without any qualms.
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MA did not appear to use the TB4 cable I had connected though and instead used my home wifi. I couldn’t say for 100% certain because I was out while it did its thing so hard to tell if it ran for 50 min or just 10 min. But its window did say something about using my home wifi (which is fortunately pretty fast). I wonder if I had refused to select a wifi network on the new MBP if that would have forced TB4 or rather just ended up triggering wifi p2p which would have likely been slower.
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Trackpad feels better and gives better haptic feedback. With my old M1P 14" MBP I sometimes just wasn’t 100% sure if I had actually tapped the trackpad. No more. The feedback on the new trackpad is strong and clear. Love it. Now, I’m left wondering if that’s because Apple actually improved something or if it’s just because it’s brand new and I had mashed too much on the old over the 3 years of heavy use I put on it.

(And is it just me or is there no Haptics subsection in System Settings on Sequoia like there is in iOS?)