For what it's worth, I've been running Channels DVR on an M1 Mac Mini for the past day and it's been working great so far.
I haven't tried software transcoding yet but frankly I don't think there's any need for it -- hardware transcoding quality is great on the M1, even at low bitrates.
I'd imagine the lowest hanging fruit is comskip because that is both CPU-intensive and it's a separate binary... but despite running under Rosetta translation it still runs so fast (without any audible fan noise) that it's still fine as-is.

