Welcome to Amiga.org :-)
I haven't got an A500, but I'm currently using an A1200 (OK, not currently - it hasn't got internet access) to get used to the Amiga environment again in preparation for buying an A1.
If you think that the A500 and similar was the pinnacle of Amiga technology, then you'll by stunned when you see some of the setups people around here are using :-o