I recently upgraded to the Edge 520 from an Edge 500, and went for my first ride with it today. In general, I like the new unit, but it's showing significantly higher calories than the Edge 500. When riding at my normal 14-16mph pace in HR zone 3, the 500 would show 30-35 calories per mile, while the 520 is showing about 45 calories per mile.
I realize that without a power meter, it's just an estimate, and as much as I'd like to believe that the 520's number is correct, based on what I've read on the subject, I suspect the 30-35 calories per mile is more realistic (but even that seems a bit high). Though it's been several years, I remember when I first starting using the 500 that it too would estimate on the high side but dialing down the "Activity Class" setting to a mere 1 or 2 (5-6 would be the correct setting for me) helped bring it down to a more acceptable number.
I made the same setting change on the 520 (via the Garmin Connect iPhone app), but it didn't seem to help.
Anything else I can try?