Well, mine arrived today!
I actually also have the eFX version, and I need to get that one out, but I think the build on this one is a bit tighter!
Otherwise, this one is just like the eFX version. Its a solid hunk of metal with a an incredible paint job.
The decals, lights and sound are all tight and this is true 100% accurate hero prop ready for use in actual productions.
Unlike the eFX version, this one comes with the holster and a roddenberry Trek Insignia Stand... which you had to pay extra for on the eFX version.
All packaging is first rate, all you need is three AAA batteries.
The big debate here, is it worth $500? And I guess that comes down to each individual. I'll suggest that for the quality of the build, that goes into this product, it cost every bit of $350+ simply to manufacture. I say this because its made out of solid metal, and that means the amount of hand machining that goes into each of these is substantial. Then the different elements have to all be inserted wired and connected.
All this lends me to say that if it were offered at $400 it would be an absolute value. So for what you get, I think $500 is a right price point, but clearly its not for everyone.
I'm actually very pleased with mine and it will make a nice addition to my display of other Hero Props!
Here's a quick video of it!