The two amps use totally different ICE modules so you would expect they sound different. If you haven't alreadt done so, check here for info on the two modules. Plenty of specs for you to go through but IMO the newer ASX2 series modules used in the 500M have better specs.
BTW I am currently using the 500S amp in my system with good results. Although I have used several amps (300S and 300M) with the 200ASC module, I have not heard the Ref 1000 which uses the ASP series modules.
BTW I am currently using the 500S amp in my system with good results. Although I have used several amps (300S and 300M) with the 200ASC module, I have not heard the Ref 1000 which uses the ASP series modules.

