After spending more time with the HD500 trying to get the JCM800 model to sound as good as the 11R, I discovered the following:

1) It has the potential to sound really good. I struggled with the JCM800 model until I combined it with the Bassman 4x12 cab, a U67 mic and added two EQ blocks to adjust some frequencies and add a clean boost. It sounded way too muffled with the 4x12 with greenbacks unfortunately.

2) By running my guitar cable into the HD500 and running a SPDIF cable out to my 11R, I can combine effects, amps, cabs from either unit. On the 11R, all I had to do to get the HD500 tones was switch RIG INPUT to SPDIF. When I wanted to hear 11R amps, I muted all HD500 amps and effects and utilized those in the 11R. Pretty flexible for at home, studio use.

Just some observations so far.