Pete, the 500's are a belt drive, and they are fairly reliable. The cases are a bit weak on well thrashed examples, but overall they are not too bad. Electrics on the early ones were a bit iffy, Bosch ignition boxes and pickups, and later ones had ND pickups. See Brooke Henry or Gowanloch's for updates.
Handling is good, but the swingarms were bushed, and will have some play on high km examples. Standard mar'shock'ie rear units are crap, so Koni's or "Ikons" help your posterior here, but the forks are quite good for the period. Watch the rear wheel cush hubs and bearings, and try to ensure that the bike has only been run on synthetic oil (a Ducati instruction for these machines...)
The 600's tend to be crap, the gearboxes were weak, and the cases let go, but the 650's were very good, although rare.
Gearboxes on the 500's suffered abuse badly, but overall, it was the base of the whole generation of two-valve belt-drive engines, and with a well set up pair of Dellorto's supplying the suck, and a Verlicchi or Conti supplying the bark, you'll have a whale of a time on the twisties.....