Hi,
If you use Cloanto's Amiga Forever on your PC, you wouldn't have to go through all that trouble. Just boot up AF and play or run the program you want, and it is rather cheap. i believe about $39.95 or less for a digital download, and it can be cheaper if you owned AF before.
This also saves your Amiga 500 hardware, unless for some reason you like burning up old silicon.
smerf