The 500x (and 360x) will grow sps just fine, but this style of light provides very strong contrast, so shading is a part of it. If you're going sps dominant, then I would suggest a couple more lights than what you have planned or use supplemental lighting along with them. I don't find contrast to be a bad thing, as the natural reef is full of contrast/shading, but we're accustomed to blanketed light in our tanks (which looks unnatural to me). Personally, I would pair them with some Quanta Pro bars and call it a day, but if you're looking for an ultra clean look with no canopy, then adding another light for a total of 3 would take you a long way. This way you have a few intersecting areas where stags or other branching sps will thrive and the encrusting corals can go below.
These lights grow coral all day long, don't let anyone else tell you different, but because they are point source, there's more contrast/shading. So as long as you know this, you can plan for it and design your rock work, etc accordingly. All of the modern LED's that are available today will grow coral (and sps), but you need to know how to use them to achieve the best results, so the argument about this brand is better than that brand is absolute garbage. If there was one clear "best ever" light fixture, it would be hanging over every single tank, right? Happy reefing!