Bought a pair of these a decade ago and they immediately became my "guinea-pigs" for everything related to Ribbon Microphone mods.
First step was removing all the insane grills and cloths from the inside.
Of course the ribbon becomes more exposed to damage so, don't let wind catch the ribbon element.
The sound became instantly 90% better than what it was from factory.
Second step, bought some ribbon appropriate aluminum foil and started making my own corrugated ribbon elements.
The RB500 original ribbon is much heavier that the one i am using now.
After finishing with the new ribbon, it was definitely a new microphone. The difference was even greater than what i had before, after removing all the trash from inside.
Third step, a Lundahl transformer.
This thing started sounding like a Royer!
Fourth step and probably the most interesting: changing cable for something decent and padding the inside of the bottom cup in the microphone.
I've changed both in this way and i've already used them for main vocals in released albums, for overheads, acoustic guitars and even saxophone.
They excell with wind instruments but beware of the wind hitting the ribbon.
Tilt the microphone!
RB500 are great for learning about ribbon microphones and even with the single "Step One" mod you'll get a very decent microphone.