By that I mean how does it compare to other double locking trems like a Floyd Rose etc. It's equipped on a Jackson JS30 Dinky aka JS30DK
I have no personal experience with that particular Tremelo system, but I know that many OLP are very similar in design and nature. The quality will obviously be less prominent in the cheaper versions, but unless your looking into complete design differences, like the Kahler Vibrato's then I can't see how there will be any huge leaps between the systems.
The guy who was showing the basics on how to build and uphold a guitar explained how so many young kids wanted to upgrade their cheap versions of the original Floyd Rose. But he always said the same thing, don't bother, it won't be that much better. Especially seeing as you could be paying large amounts of money to have it done.
IIRC the JT500 is made by Schaller and is actually pretty good...the JT580 is a bit ropey though.
Actually called Mark!

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People with a duck for their avatar always give good advice.

...it's a seagull

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i wanna see a clip of a recto buying some groceries.

^No no no no no. JT 590 were made by Schaller. JT500's were on the Jackson Concept series, the lowest of the Professional line. A 580 is a much better choice.
1992 Ibanez S540 sol
1988? Kramer Pacer Mutt