I think there's some misunderstanding between the definition of a thermostat and a thermometer...
A thermostat (like the 500R) will CONTROL the temperature of the UTH.
A thermometer is used used to MEASURE the temperature.
These are not a one-or-the-other deal. You should be running a thermoSTAT to control how hot the heat source gets, while running a thermoMETER to measure the temps you're getting.
If you are using an analog dial type thermometer, you're probably not getting accurate readings. Using a digital thermometer with a probe is my preferred method. You can put the probe under the hot side hide to measure the temps your snake is actually being exposed to. I use the Accu-rite indoor/outdoor thermometer with humidity. The probe goes on the hot side, the unit itself sits on the cool side to measure the cool side temps and humidity...
As for the thermoSTAT, I am in the other camp with the 500r. I have had mine for about 4 years and I have never had a problem with it. You do get what you pay for and with as cheap as it is, you don't get a digital readout and the temps can fluctuate within about a 5 degree range, but I find that to be acceptable for what it is... My tip for using and adjusting that thermostat is to make SMALL incremental adjustments when you're getting it set up. Let the temps stabilize for at least an hour after each adjustment before tweaking any more. Once you find the right spot on the dial, mark it with a sharpie or something so if you ever have to take it down and set it back up, you know GENERALLY where to set it and will only have to make minor adjustments from there.