I'm confused why you would replace your 16" M1 Pro with a 15" M5 Air... on which axes is that an upgrade over your M1 Pro?
The M5 is also significantly faster than an M1 Pro. I definitely feel the snappiness on day to day use. I'm also upgrading from 16GB/512GB to 24GB/1TB.
The screen is quite a downgrade and the battery life, surprisingly, is only marginally better than my 5 year old M1 Pro with only 79% capacity left.
Other than that, I don't miss anything else about the M1 Pro. I hear rumors that they're making a smaller MBP in the M6 Pro/Max generation which is why I wanted to wait originally.