Uncanny X-Men #500 is the issue we've been waiting for since Messiah Complex that establishes the new status quo and launches the next era of the X-Men. At least in theory. In practice it's got it's good points but I'm not certain it's quite the bold declaration of purpose it intends to be.
We do get the tour of the new headquarters, and the clear statement of what the X-Men are trying to accomplish in San Francisco. We don't get an entirely clear view of the current line-up of the team (not really necessary but a pet peeve of mine), nor is it clear how X-Force fits into the picture (especially since Warren is still in his angelic form and quite cheerful here).
Despite the extra length (37 pages of story), some parts feel a bit rushed. On the one hand, I appreciate getting a fairly self-contained story to launch the new direction. On the other hand, the story tries to cover a lot of ground between touring the new base, working through a fight scene, and setting up some teasers of what's to come. In particular, Magneto's part in the issue feels rushed. He's mostly reduced to sound bites, and I prefer Magneto with more of a grandly articulated vision. One of the epilogue scenes somewhat justifies this, but for such a major character's return I was hoping for more. Finally, that same epilogue scene, setting up one of the long-range threats, was probably supposed to resonate more than it did for me. I know X-Men continuity pretty darn well, but I'm not as up on other corners of the Marvel Universe, and I feel like I must be missing something that would have improved that part of the ending. As it is I'll just have to wait and see what it was supposed to imply.
As far as the art, the issue is split between Greg Land and Terry Dodson, mostly alternating chapters except for chapter 4 where it's more mixed. While both artists produced good work, when the point of the issue is to define a new direction, splitting the art like this is an odd choice. It sends mixed messages rather than establishing a clear, definitive new feel. And I also must admit that while Land's work is often gorgeous, it's sometimes a bit too stiff in it's airbrushed perfection. Despite Dodson's art being less realistic, I find his facial expressions feel morenatural. The switch between the two styles isn't too jarring, but I think it added to the slightly disjointed feel of the book.
All in all a good issue, but not a great one in the face of high expectations. However, the setup that's been established is very interesting, and I like that they're settling in to use San Francisco as a real headquarters, not just a place to regroup momentarily. It may not be the smoothest introduction, but it does leave me interested in what happens next, and convinced that the team has a new and clear direction worth reading about.