I have one and hate it.
The worst thermostat I have. In all honesty I would rely on Hydrofarms over those. But to answer your question yes it will easily run 2 standard UHT's.
Once you see either a Herpstat of a Vivarium Electronics thermostat I will almost bet that like me, your 500 will be relegated to a box as a last ditch back up.

To save money, at least around here reptile expo's seem to be a great place to pick up thermostats at a steal. I snagged a Ve-200D for a bit over half of retail.