I have Parallels 16, and am planning to migrate to the new iMac with an M1 chip and Big Sur. I believe that Parallels 16 will run OK, but are there any limitations on which guest operating systems and/or applications can be migrated and will run? I have a basic Windows 10 OS running now, but also have legacy Windows 7 and Windows XP with some applications I cannot easily move to W10. Am I likely to run into issues with continuing to use any of these on the new M1? If so, what will happen to these (by then unsupported) OSs and apps when I do the migration from my current older Mac to the new M1 Mac? And do I have to do anything before the migration to prepare? Paul.