Yeah the 500 is a pistol round - a 60000psi SAAMI rated pistol round. It easily outperforms the hottest 45-70 loads, and with my 440 grain hardcast load, out classes a 150 grain 30-06 in energy, momentum, and drop to 1000 yards. My load is not as hot as the Buffalo Bore load, but still makes 1800fps out of the handi. Mine pops open too, so I'll try degreasing it. I haven't shot it much because it came in with a broken rear sight (cheezy plastic) and the recoil keeps moving the slider and breaking off more pieces of the cheap sight. I've ordered a all steel sight from Williams, we'll see how it does. Recoil is a bit stiff out of the little rifle, but trivial in comparison with my 4" S&W. I like both guns a lot better with intermediate handloads, and they are downright pleasant with Trailboss loads.
What do I intent to shoot with it? Why, anything I care to. While I have no intensions of shooting long range with this round, I left the trace up for the trailboss load on Ballistic Explorer. I was amazed how much energy it retained.