Hiyo! I'll leave the answers to more expert users, but I'll share my experience as well since I'm new.
I am aware of budgie 10.10 shifting from x11 to wayland, is it better to wait and try it out once it's released? (I've only used KDE plasma)
I'd wait to be honest.
How easy is it to download nvidia drivers? Are they up to date? Does it default to production or new feature branch? And will I get hit with the black screen of death when using multi monitors? (For context the production branch has 580.126.09 while new feature has 590.48.01)
That's a good question. The default is 580 while 590 is beta for Solus (so, does Solus defaults to New Feature Branch or does it put it as Beta forever?)
Anyways, for Plasma and Budgie is pretty easy to install the drivers as Discover behaves correctly. Just click the driver section and install the correct drivers. There's also an option to install the 32-bit libraries if needed. For drivers in general, just be careful because, as for TW, Solus provide with kernel-current (default) and kernel LTS: https://help.getsol.us/docs/user/quick-start/kernel-management/add-new-kernels/ (this page will show you the differences with the name of the packages)
For GNOME instead, GNOME Software is a bit "meh" and unclear in my opinion, but I managed to proceed.
Do WM (Niri mostly since I use it alot) work well in Solus?
No idea, sorry.
Screensharing (like in zoom , google meet etc) and recording (like in OBS-studio), do they perform well on wayland in Solus?
As good as the other OSs, as far as I could test.
Do codecs come pre-installed?
Everything is working by default (video, music, hardware acceleration in Firefox), so I guess that they are pre-installed!
I apologize if there are alot of questions asked since I don't wanna make the same mistake like I did with opensuse TW
I'm an old TW user as well! I'm feeling better with Solus, hope you'll do as well!
The only thing that is missing for laptop users like me and you (MSI with RTX 4080 mobile here): switcheroo isn't enabled by default, and it controls the hybrid GPUs so it's kind of important. So, install Solus, update, reboot, install Nvidia, reboot, use this: https://en.opensuse.org/SDB:NVIDIA_Switcheroo_Control (yes, it's for openSUSE, but works here as well; just install switcheroo and enable it; done).
As far as I can remember, it should be pre-installed, so this command should suffice: sudo systemctl enable --now switcheroo-control.service , only once and forever.