So I had the opportunity to buy a DS 723 Plus from Synology. I was noticing the specs on it and it has a AMD ryzen processor. So the general question I have is it worth it to move my entire setup over to that one or leave it set up on my DS720 Plus which has been operating with no issues whatsoever Is there any performance enhancement?
All depends on your needs. I'm not well versed, but in general, Intel > AMD in NAS when used for Transcoding streams. Outside of that, I think the newer model is better.
Since you said your current setup has no issues, not sure the investment is worth the return on any non-transcoding performance improvements.
The Plex list of NAS devices will give you a good idea of what each model can do for transcoding.
You might also take in to consideration heat and power consumption. Stock fans on Syno boxen can get noisy.