M1 Ultra and FCP - 2009 Cheese Grader is Faster?

Greetings.

I admit I am a digital hack... know enough to make myself miserably functional inside 40 different apps, but not enough to be qualified at any of them. With that said, I am hoping user ignorance is at play, and someone here with a bit more qualified experience could help me analyze my issue..

When it comes to FCP, I am having severe buyers remorse over this $8,500 M1 Ultra purchase (with monitor). A simple 1:12 video is taking up to 3:01 to export, and while I can not replicate the 'exact' timeline/content on my 2009 PRO Tower with FCP 10.2... it's doing a very similar 1:12 video export in 1:11 mins.

This is the setup for the M1:

ProRes 422 = 3:01 mins. export

Mp4 = 2:39 mins. export

Here is the setup for MacPro:

Mp4 = 1:11 mins. export

Both machines have rendered completely in the timeline before exporting.

* Video content for the M1 is on a USB connected external drive (imported to Library), exporting to the desktop. Content for the MacPro is on the internal drive imported to Library.

I realize there is difference in content - but 13 yrs old vs. $6,500 new, fastest bla bla bla... marketing - this doesn't compute for me.

Thanks in advance for time and assistance.