M1 Macbook air?

Seems kind of bazar but after buying an MPC Live2, followed by a Force, all with the view of moving from computer based to stand alone music production, I'm now contemplating buying a MacBook Air.
Price is the biggest consideration and there is an M1 model on special locally. Biggest concern would be only 8gb of ram. I have priced online, various upgrades of both the 'Air' and a new 'MBP' and nah that's just not going to happen.
I have a 32 channel digital mixer which needs Firewire800. Works fine with my 11 year old MBP and without it it's nothing but an expensive door stop. 5 years ago I replaced the 256gig ssd with a 2 tb one.
I can swap them back and use the 2tb in an enclosure with the "Air". Replace the MBP ssd with the original and keep it for home recording.
I would reformat both hard drives and redownload everything. Complete clean installation on both computers.
The old MBP will not update to operating software required to run NI updates, and now Ableton Live 12.( which I have not upgraded since 9)
Given compatibility between Force and 'Live' I would probably upgrade there.
My main use for the 'Air' would be to run 'Live' and/or MPC software to host various VST plugins.
Looking for some sort of confirmation that it would actually be good enough for this. I would not want to run a lot of VSTs at once for recording, but maybe more in mixing/mastering stages. But then I could run far higher sample rates as latency would not be an issue. I have tried a few 'Keygroups' from various plugins and they are quite usable in stand alone.
Any comments please? Would especially like to hear from anyone using a MacBook Air.
PS: I am as committed to the 'Apple' workflow as I am the the 'Akai' one so 'PC' is NOT an option.
Thanks in advance for any comments.

I wouldn't worry about the 8Gb ram, it won't hold you back for music production and the M1 CPU won't be an issue for plugins etc.
Storage is the issue for me, 256Gb isn't enough and Apple are criminal in their pricing.
I solved it with a 1Tb USB-C flash drive and that's never been a problem for loading libary files etc.

My son uses an 8gb M1 Air with Ableton Live and rekkordbox running simultaneously, no issues at all. But as Neurone says, the 256GB drive is likely a problem so factor in for external storage and a good quality USB hub for drives, extra monitor, maybe passthrough charging as well.

Thanks guys. That's exactly what I was hoping to hear. Just that I've never bought a new computer since buying my MBP 11 years ago now, which was the best thing I ever did. Found it hard to believe that a $1350 (Aust) computer would be good enough.
I have the hard drive issue covered. My MBP was one of the last in which the ssd was upgradable and 5 years ago I put a 2 tb one in it. I'll swap it back for the old 256gig one that was in it in the first place and put the 2tb in an external housing. There may be ways around it but I'll reformat and re-download all my NI Komplete stuff and start fresh with a new install. The old MBP still works fine. A testament to Apple. Only problem being it will not run operating software new enough to run new programs. I do need to keep it however to use my old Firewire 32 channel digital mixer.
I heading off this morning to grab an M1 Air at a pretty good price. Run out of 2020 models I think. I looked into a 16gig ram upgrade on Air and it was either side of $2000, depending on M2 or M3 chip. Maxed out MacBook Pro, nothing I would ever need for basic music production, costs over $11,000. LOL. Glad I'm not into hard core video work!
BTW MPC-Tutor, I'm delighted with the drum expansion collection I bought a while ago and will grab the Electric Bass one while it's on special. Will probably grab the drum midi bundle too. Thank you for the work you do, for this Site and all the help you have given me personally on it.
Cheers.