Well, when I went to look, there was a big warning about it being a "EXPERIMENTAL A500 VERSION" so if your not using it just for games....
That's a separate A500 version that was introduced somewhere around 0.8.22, in addition to the main program. Never tried it.
The main WinUAE 0.8.24 program is now extremely fast and stable (has been for a while, but particularly since 0.8.23), and can emulate an A1200 or A4000 to near-perfection.
In fact, it's getting to the point where WinUAE is so good that I'm beginning to be unable to justify having lots of money tied up in Amiga hardware! :-( :-)