OK, you made me look. I mean seriously look. I guess it's only fair to tell you why I don't jump.
This is most similar to the Outlaw 970 which sell new for $699 or B-stock $649. Once I pay $500 to you plus shipping and a new remote, I'm sure to be over $600. Still cheaper, but this will not transcode composite or S-video to component or show the OSD over component, where the Outlaw does. Also, the Outlaw also has DVI. These additional features on the Outlaw would be useful to me.
I'm sort of half in/half out on the need for a separate pre/pro. In one sense, I'd like to hold out for the HDMI 1.3 units. In another sense, I'd be happy to find a screaming deal on something that would allow me to hold off buying an HDMI 1.3 unit. While you may feel like your getting boned by selling this for $500, unfortunately it's not the screaming deal I'm looking for.
I'm not trying to bash your device or anything. I just want to let you know I did look seriously and give you some feedback on what I've found.