Quindici, I was thinking about this as I was driving home from work today. You did ask about pursuing a job as a co-jo, and we didn't really address it from that angle. I guess the "problem" with helicopter aviation is that there are so few copilot slots open that we really don't have any experience applying for them or hiring people to fill them.
But let me offer my best guess: It won't matter. In this business, too much depends on the individual. You could have 500 hours of mostly traffic watch and the other guy could have 500 hours in R-22's. You and your competitor are the same age and have exactly the same ratings and other quals (e.g. college or whatever). Who's going to get hired? It's likely a toss-up. It'll come down to who gives the best interview. Or who presents himself the best. Or how the Chief Pilot feels that day.
From the low-timer's POV, 500 hours is a lot. But from *our* POV, that amount of time is nothing. At that stage, you're all about equal in our eyes, no offense intended. Seriously, it would come down to personalities. Which one do I feel would stay with us longer? Which one is more trainable? Which one will get along with our PIC's the best?
(Here's a dirty little secret about our industry: When it comes right down to it, even PIC's are hired this way, sometimes despite the fact that there's someone more qualified for the job. If I don't think I'm going to get along with you, you could be Orville Wright and I'd send you back to repairing bicycles.)
For a job like this, it's *probably* not about the type of flight time you have. So I'll give you this free gem of interview advice: Whichever way you decide to go, be charming.