We are putting M500s on Patrol carbines and slowly upgrading SWAT carbines to M900s and rails (M4 RAS). The M500 is a good choice for general patrol use; the pressure switches and related gear are all out of the way where Murphy has a tougher time breaking them. We are going with the M900 on SWAT weapons because there is not other real equivalent to it in terms of output and with the LEDs, and because most of our folks are converting to the vertical foregrip school of thought. We are running rails to accomdate other gear, particularly the IR lasers that are critical if you are goinf to run sucessful NVGs ops.
I use my SWAT carbine for patrol use, and the M900 works fine. On the 11.5" we run (most are standard 14.5" M4s) the M900 works fine. One potential problem is that if you are running the M900 and rails, you are going to have a difficult time getting a working rack to keep it inside the patrol car. We are cobbling together racks, but they are having to lock around the receiver extension with the stock fully extended, and I am not sure that is not going to be too much stress over the long run. You can get off-the-shelf racks for an M500-equipped carbine, though you can only use a 20 round magazine while the weapon is racked.
Either systme would work great, but if you want to keep the rails and the flexibility that offers, then go with the M900.