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Ah ok, so it just runs poorly then. Well, hopefully it improves in time. The i7-8700B Mac Mini I have with Parallels and Windows 10 x86 is almost...
To clarify, the guest is locked at 1GHz, not the host.
I just got a 16GB MBA M1 and thought I'd try to the Parallels 16.5 + Windows 10 on ARM Insiders Build. Doesn't run well on my end and very slow....