Just picked up a shiny new HL500 from Evans Cycles in the UK this morning and thought as I haven't seen any reviews online or forum posts it may be interesting for I and others to share first experiences.
As I'm still at work I can only comment on the superficials, but will try to get a ride with it tonight and update.
First thoughts are that it is very solidly made, both the unit itself which is brushed aluminium (the grey), glass lens and plastic bottom. It's not light though, but for a winter training light it is fine, although for a summer early start long event something smaller and lighter would be better just to get you to the start legally.
Secondly the light seems very clean and bright and has a central focuses area with a wider beam around it.
The third point is that the mount, though well made and with a reassuring damped click when the unit snaps in will angle your edge upwards (light has to be horizontal) and keeps the edge about the bars which whilst similar to the standard garmin mount I do let find as nice as the dropped down in-line with the bars fit I get with a K-Edge.
Anyway, as I said I'll post an update after my first ride later to let you know how well it works on the open road.