Well, my first roll of film came back from the lab, and the scans definitely meet my quality expectations. That is when I hit focus. I'm rust with manual focus so several shots look pretty bad, but I expect that to get better.
So I am relieved that my new FM2 is not as big a drop in quality as I had feared. Right now the only lens I have for it is the Nikkor 50mm f/1.2 AIS lens. I hope to add a few more in the very near future.