I have owned and shot each barrel length in the 500 (2 1/2" Bear gun, 4" and 8 3/8th). I currently have just the 6.5". I reload and have shot everything from wimp loads to the 700 grain hot loaded. The most interesting load was 50 grains of black powder behind the Lyman 515141 bullet. Smoke and kick, shoot and wait for the area to clear to check targets.
Its a matter of perspective and training. Start out light and work up. I got one of the first 500's in Utah back in the day and shot the hell out of it. Now I use 12 grains of unique behind a Lee 350 grain hollow based mini ball. Its the full wadcutter from hell. I can say that two or three cylinders of the hot stuff is about all I care for in one setting though. Its a fun gun and you sure feel more manly after shooting it than you would with a 22.