After reading religiously this post since a few month, I was really affraid as I've just received my Mac Studio ultra and I was certain that VEP was totally Brocken.
I've just give it a try : LogicPro M1 native (VEP AU) and VEP local server Ilok version (on the same Mac Ultra) with latest version downloaded yesterday.
The result is not so bad
It does work. There is some light clicks (latency @128), but it does works (orchestral template with a lot of instruments and more than 64gb of RAM usage). Clicks are disappearing when putting VEP server on top and not logic (weird).
It is not the greatest solution, but I'm able to open my template and make some mods to olds songs.
I can't wait to get the Silicon native version !
In the meantime, I will stay with logic only to avoid those clicks