I used to hand-setup each new Mac, but lately (last decade or so; gosh this M1 Pro is absolutely ancient) I just let the migration assistant do the needful.
Storage is too cheap for me to spend time optimizing it anymore. I’m sure I have cruft somewhere, but it doesn’t bother me.
It leaves the "source computer" alone, so if it blows up you can always just start again.
I never trade in my old computer, even if I'm going to sell or get rid of it (donate) I keep it around for a month or so to make sure everything's working.
I get that. Personally, I'm a bit weird because I don't like to bring all the stuff from the previous machine (documents, files, etc.). I like to start fresh and only install a couple of apps / configure some settings.
Storage is too cheap for me to spend time optimizing it anymore. I’m sure I have cruft somewhere, but it doesn’t bother me.