Hey folks, I realise I'm a bit late to the party on this one but I just wanted to share my experience of the PF-500 after a couple of months of ownership.
Being an Ampeg fan but not having a lot of cash to burn I'd had my heart set on the PF-500 for a while, I was a bit concerned about the quality control issues people had come across on various forums and talk of the amp cutting out but I decided to take the plunge anyway. I'm now very glad I did, it set me back £315 from PMT Birmingham which seemed a bit of a steal (that seems to be the RRP now though as most places have it around that price).
The only other bass head I have major experience with is the Mark Bass LM-2 but with them both being 500w and solid state it seems like a fair comparison (let's ignore the price difference). Of course the most important thing is tone and I do think the Ampeg wins in this area, it sounds very warm and full where the Mark Bass is a lot more modern and hi-fi, I'm sure the MB may be better for some people with it providing a much more neutral sound but there is a reason I went Ampeg.
The MB does claw some points back where power is concerned though, while the PF-500 certainly isn't short of it the MB is mind boggling, you can shake rooms to pieces without it even breaking a sweat and considering it manages to do that while being so tiny, amazing. The Ampeg feels like you have to push it a lot more to get it to that kind level but it still easily copes with playing your average bar venue.
Reliability, as a mentioned before was a pretty big concern when buying the PF-500 given some of the horror stories I'd read online. So far I have only experienced one cut out and that was with the compressor turned off, I quickly learned from this and now think of that knob as a "pre-amp protector" rather than a comp and leave it at 8-9 o'clock at all times.
One last point as well in the MB vs Ampeg debate I had real problems getting my fuzz pedals to work well with the MB, maybe I just didn't have it set up for it but I'd always find my fuzz sounding dull and lifeless where with the Ampeg pedals I'd previously written off as being crap have found a whole new lease of life.
So in conclusion I'm extremely happy I went for the PF-500, getting that Ampeg sound in a unit that I can fit in a laptop bag is frankly awesome. To anyone considering getting one, at that price point I can't see why you wouldn't, just remember to use a bit of the compressor and you should hopefully stay issue free!
For the curious, a little video of it in action at practice with a MB 4x10 and 2x10. Please excuse my playing.