It's only wooly when you put it beside other modern orthos (like HE400, HE6, LCD2, LCD3) and A/B them. Against most other headphones it actually is less wooly. There is a wooliness scale, most dynamics are to the poor side, HE500 is near the top, other modern orthos (as well as some summit-fi cans of other driver types) are at the top.
Jerg, changing the subject a little, what about the adhesion mod on your jergpads? does it really improve HE-500's sub-bass?