From memory the DSR-500WSP can take tapes up to three hours in length and has a similar front end to a DigiBeta camera (making it a whole lot easier for a cameraman to use than a fiddly small camera) whereas the VX1000 is limited to short DV-Cam tapes and while the quality is excellent it suffers from all the niggling problems of semi-pro gear (buttons hard to reach while filming, difficulty using manual settings etc). I'd go for the 500 any day.