The 1k has Schaller locking tuners, abalone binding/fret markers, a Tonepros locking bridge, and may have quilted maple tops. The 500 has Grover non-locking and a black trim with whitish (creme) fret markers, a normal Tune-O-Matic bridge, and lack maple tops (oddly enough the 400 with Duncans do have a flamed top). Also, there's a 500 guitar that has no inlays with an ebony fretboard, while the equivalent 1k has the abalone fret markers.

The difference in price is mainly the wood, fancy trim, and the locking hardware (bridge+tuners).
Last edited by Fast_Fingers at Oct 2, 2007,