Sorry about that. The stepping outside was for my brain; i.e.: If I need to change my mind there's not enough room in my 150 to do it, so step outside. As for the 500 Vs the 1000 they do basically the same thing, but the 500 is half the size compared to the 1000. Second, due to size, it tends to block out the instrument panel; thus, a second consideration.
Here's a shot of my 500 on the left column. The neat thing about putting it here is: it's not on the yoke, thus readable 100% of the time, and due to my bi-focals a heck of a lot easier to read.