Here's some numbers from my latest benchmark run:
"Junk Shop" demo using Cycles M1 Max (10 cores CPU / 32 cores GPU) Blender 3.0 (CPU) / 1:14.64 minutes Blender 3.1 (CPU) / 1:10.86 minutes (1.05x) Blender 3.1 (Metal GPU) / 0:44.16 minutes (1.68x) Blender 3.1 (Metal GPU+CPU) / 0:27.90 minutes (2.67x)
Initial testing on one of my low poly scenes:
v3.1 cycles GPU — 35.5 seconds.
v3.0 cycles CPU — 90 seconds.
3.1 with support for Metal and GPU rendering boosted speed by about ~ 3x