Catalina to Big Sur

I have a mid 2017 iMac running Catalina. I read about the issue on the Big Sur launch day but haven’t heard much since and hoping that means good news. Question:

*Should I upgrade now or wait awhile longer?
*If I upgrade how are my apps affected, if at all.
*Since I don’t have the M1 chip, does that mean I won’t have access to Universal Apps?

Thank you!

As a QA tester on Audacity I took a bleeding edge approach an upgraded to Big Sur on day 1 - see my report in this Sticky thread:

Basically all 64-bit versions of Audacity 2.3.1 through 2.4.2 work fine on Big Sur - and so does the latest alpha test version I have for the upcoming 3.0.0