For $500 i think that the Ibanez RG321MH is probably the most suitable. Why? The fixed bridge eliminates all the tuning hassles that other trem-equipped guitars bring. The stock pickups are ok, and the neck is IMHO one of the most playable out there. Ibanez overrated, boring and ugly? I don't think the millions of Ibanez owners out there, myself included, will verify that. But to each his own. i don't know the reasons why you find them overrated, boring and ugly, but i for 1 love Ibanezes. I find them to be well suited for beginners with a larger budget (around $500-900), the SA260FM and the aforementioned guitar included.
That being said, there are definitely more value-for-money guitars out there for the price, Smash guitars come to mind as do Corts and Washburns. Ultimately, it is up to the individual to search out that guitar that satisfies as many of the conditions they set. Recommendations can only get you so far. I for one did more than a year's worth of research here on SOFT as well as at the guitar shops, trying to find that one guitar that would meet my needs. I can safely say that i have not been disappointed. Take your time and enjoy sampling the myriad of choices out there. You won't regret it.