Read a blog where a guy saved his Premiere Pro and After Effects files to a SAN and had set up a beefy Xeon VM on which to host Adobe's Media Encoder in order to, "free up" his computer for normal use while rendering. Said he didn't get much of a hit as compared to his SSDs.
This post is a counter to that in case I ever think it might be a good idea to try it again in the future - don't. Now mind you he's using 10G SAN connectivity and I'm using 1G SAN connectivity, but reading from one locally-attached NVMe and writing to another locally-attached NVMe with a 12th-gen i5, an RTX3070, and 80GB more than outperforms my 16-processor SAN-attached Xeon VM. I'll just use one of my other numerous desktops adjacent me while it does its thing.
Also, note to self, $4k for the M1 Ultra Mac Studio seems like a reasonable price all of a sudden.