Hi Dominic54321,
Your description of the 502's sonic attributes sounds like what I hear in my 902C. I've been doing quite a little of that A/B-ing between my 902C and LMII. Both of these amps are great, and I don't know that I would have been willing to pay the premium for a 902C if I already owned an LMII. But I acquired them in the other order! After several gigs and even more full-band rehearsals, I'm satisfied that I like the sound of the 902C better. But figuring out exactly WHY I prefer the Epi -- and finding a way to describe it -- has taken me a while. Here's my best shot ...
When I play the 902C through my Epi cabinets, the sound is sweet and full in the way that so many others have described the Epi amp/cabinet sound. This amp seems to amplify all of the best characteristics of each of my basses, producing a sound that is clear, distinct and exceptionally well-defined. When I'm playing in the band setting (with some very talented but loud musicians), I can always hear my bass's "sonic envelope" in the mix. (By "sonic envelope," I mean the total sound that emerges when I pluck/pick/slap or pop a note -- the pitch of the note, the effect of particular tone control settings and volume settings, the result of changes in my attack and dynamics, the rise and decay of each note -- in short, all the pieces I expect--or hope--to "be there" when I play).
With the LMII, many of the sonic characteristics of the 902C are there: clarity (in abundance), quick attack, amply power, ample bottom, sweet top, etc. But my notes don't emerge from the cabinets with the same "authority" that they do with the Epi. Pitch is slightly less distinct, tonal variations seem more subtle, and I don't hear each note as "fully-formed" as I do with the 902C. The effect for me is almost like the difference between a power amp with a traditional lead sled power supply v. one with a switching power supply.
It's important for me to note: 1) I love the LMII -- I think that it's a modern-miracle at its weight and price, and I think it sounds great; 2) The differences I'm hearing are truly subtle -- these amps are more alike than different; 3) I don't have a 502 to compare with the LMII, so some or all of what I'm hearing may be due to the Epi's larger power amp section.
So, if forced to choose, it'd have to be the 902C. It's as close as perfect as I've found after playing LOTS AND LOTS AND LOTS of amps. And, as a bonus, it'll drive my Acme Low B2's, which the LMII can't do without breaking up! (And those cabinets do things in the low end that my UL 410 and UL 112's can't touch).
The 502 versus the LMII is a better comparison. I would hope that an amp with virtually double the wattage (out of one side!!!!) and about four times the cost would sound at least a touch better than the LMII
While I was reasonably impressed with the 502, I find the price point ridiculous for that amp, and the low end a little too extended. Nice $1,200 amp IMO (i.e., the used prices around $1K are a good deal for that amp). However, given the rather hefty weight (it's much heavier than the switching power supply 902), and the extremely high price point versus other similarly rated heads, it does not surprise me that you don't see many of the 502's being played (at least I haven't).
As I always post (hoping that Nick might eventually pay attention
At this point, the 902 is a niche product (not many of us need two non-bridging 900 watt power amps!), and the 502.. well... close but no cigar on the price value and weight/power ratio.
IMO as always.

