It was designed to resemble the A-5, but did that poorly, plus the stock that resulted was a poor design that kicked way worse than the A-5; the short recoil system only accentuated that.
As for reliability and longevity, the Tri-Star TT-15 has a better record. You'll occasionally find the odd A-500 that got out and actually worked, like yours, but they are rare. I'd stick to the AA's also.
I shot that one the shop had, just to say I'd shot one. and that's about all I can say that is positive. It, however, wasn't the only stinker semi that Browning came out with around that time. The B-80 and B-2000 were not much better. When the Gold came out, I was real skeptical. They seem to be OK though; they have quite a following amongst waterfowlers.