I like Ovations, both unplugged and plugged-in. I guess it's an acquired taste, they sound unique and not all people like them. I just dislike the bowl back that makes the guitars slide off your leg pretty easily.
$500 could get you a nice Custom Acoustic or Jack and Danny with Fishman pickup installed. Definitely good value for money, and they're well reputed here so you need not worry too much about the quality.
Of course, try the guitars first and do some inspection before confirming any purchase. There are 'bad' pieces from every brand, just that some brands have more 'bad' pieces than others.