I personally found the P500 to suck, unless they made revisions, the plastic pusher piece rotated against the sight as you spun the shaft and marred up the sight. I had to use needle nose pliers to keep it from spinning while I applied torque to the shaft. Garbage.
I frankly dont care about the marring that much, but you also need another big bulky piece to keep any slide steady that doesn't have flat sides. It also sucks if you go a little past where you want, and have to completely unscrew the shaft and put it in the other side, then re-thread it back in. Time consuming, and a pain in the ass, unless you can eye ball it and nail it the first time.
I now have the MGW PRO universal sight tool that uses the different shoes depending on what gun you're working on, and its in a class of its own. Nothing to rotate against your sights, and if you go too far, simply torque it the other direction and make adjustments as needed.
Fantastic item, much better than the P500 I ditched years ago.
As long as MGW makes a shoe for your gun, you can use the sight tool.