I definitely don't consider the PS500s to be a "non-Grado" sound...they just don't have the same brightness that the performance line models have. They are fuller in the bottom end, but still don't have the same extension that you'll find in other headphones. The sound stage is very natural without being "large". The have that ability to create a more organic listening experience like other Grados do, which is something that has always endeared me to them. Imaging is solid. Timbre is spot on and both instruments and vocals have uncanny realism.
I tend to like a slightly bright headphone, so I was a bit uncertain if these would appeal to me as much as other Grado options, but they really have...it's not even a concern for me anymore. Bass heads probably wouldn't care for these, although they do have some pretty robust mid-bass. The quality of bass is very good. It's not boomy, but is very tight, articulate and natural sounding. And actually, these are probably as close as Grados will get to being an all-rounder. I even enjoy using them for some of the electronical/trance music that I've taken a liking to recently.
So far, even compared to my T1s, the 500s are tops for me at less than half the price. Of course, they won't be for everyone....I'm just one of the lucky ones I guess...God bless John Grados ears!!!!!