I really like the fw500. It came without grip tape... but that is to showcase that the handle is not just a chunk of wood; it is hollow carbon fiber that is part of the racket!
I find the balance to be really head heavy compared to the fw200. I haven't done proper measurements because there is string and grip tape on the rackets but I would say it is 20-25mm more head heavy than the FW200. Probably in part due to the handle weighing almost nothing.
Anyway, it is not a very powerful racket as you just can't be very powerful at 63 grams. But it is more powerful than you would expect. Because it is so head heavy it feels at least as powerful as the 69 gram featherweight 200 and more powerful than the Yonex FB.
It is also fairly flexy. This means that it isn't too too difficult to get a moderate amount of power. I like this racket a lot for doubles, however my wife has decided that she likes it too so I haven't got as much chance to use it. She is coming from a Tantrum 500, which is a very different racket: much heavier. She never liked the FW200, so I didn't expect her to like the FW500. However, like the Tantrum 500 it is quite head heavy and flexy so I think that is what she likes about it.
I am not a huge smasher. In doubles I often have to smash several times to win a rally anyway so the FW500 is not a disadvantage for me there. In fact, it makes it easier to smash over and over. But to get the power you need a more compact swing using more forearm and less shoulder (compared to the typical 87 gram racket). For defense I love the speed. Touch shots (slow drops, tumbling net shots) I lose a bit of accuracy with a lightweight racket but I find I play fewer touch shots in doubles anyway.
I received the FW500 strung at 23 lbs with .66 guage apacs string, which is OK, but I will likely re-string it to 25lbs with bg80 (0.68 guage string). That is what I use with the FW200's for doubles. Thicker BG80 needs a higher tension to feel the same as thin string. For reference I am playing singles with an Apacs Virtuoso Performance 3U racket strung with BG80 at 27 lbs.
I would like to hear your impressions of the FW500 when you get it. I loved the 200, but I find the 500 to be better in every way.