After thinking about this I have to ask...
Are you converting a PLC/2 to a SLC500 platform? Because if you are choosing a SLC500 over converting a PLC/2 to a PLC/5 then you may be taking a step in the wrong direction. The PLC/5 is a superior platform and it has a superior instruction set. Both the PLC/5 and SLC are getting long in the tooth but the PLC/5 is probably going to be in support for at least 30 more years, IMO probably longer than the SLC platform. And while a PLC/5 processor costs more than a SLC processor, it works with the 1771 IO and chassis you already have with the PLC/2. So total cost will probably be less if you do a PLC/5. And after you have the program converted the hardware conversion takes only minutes (power down, swap processors, power up, download). The one hic-up is if you have RSLogix5 or not. Even if you don't and have to buy a copy you might still be ahead when you consider conversion time costs.
I wouldn't use the SLC for anything new. If you are set on sticking with the Logix500 then I'd choose a ML1400 over a SLC as long as you don't need any specialty IO. If you are converting the PLC platform then consider a CompactLogix over a SLC. The CompactLogix costs less than a SLC does and it is far superior.
Just some fodder for your consideration. Either way we'll be happy to assist were we can.