I am not currently running an Eotech on that 500 any more, but I really liked the reticle (1 moa center and 65 moa ring). It gives me a good reference point of where the shot pattern is going to be within (at least within self defense distances and I like the 1 moa center dot for more precision of shooting slugs).
With that said, I do not have the Eotech on the shotgun right now. Though I did install a Bushnell Trophy 4 reticle optic on it that has the same basic circle dot pattern as the Eotech, but a smaller diameter outer ring (which picks up the attention from my eye even faster than the Eo).
I have used it for plinking, hunting, and a few friendly competitions and they have always both served me well.
The guns that I currently have the Eotech installed on all have one or more tax stamps with them: MP5K, 10.5" AR, and an M10A1 SMG w/Lage upper.