Yeah, looking up the specs on the HP2311, you should have an HDMI port. I'd get rid of the VGA to HDMI and just use a straight HDMI cord, if possible.
And you're correct: the only things you should load from your previous Mac are documents produced from apps (like stuff that you typed up on Word or produced on Photoshop, if any) as those are your personal docs. You can get newer, better versions of each app when you rebuild. You never wanna mix old system stuff with the new system.
I'm happy with the M1. It's a lot faster than my old Mini and I love that my Plex streaming server seems to be quicker as well. My only gripes are that my external Blu-Ray Player no longer works (I just connected it to my PC instead, which is fine), that it's also rendered 5.1 surround inoperable with my current configuration and I had to buy a $140 peripheral in order to get it back (and in just one app), and that iTunes is no longer a thing. The TV and Music app both suck on toast, are far less intuitive, and I hate the fact that you cannot sort by TV season, plus the "banners" look horrible instead of a square TV or movie poster art system...but otherwise I am very happy with the M1.