I've come to really like the Chelton in my 480. (I didn't get it at first) I really wanted to put it in the 130, but like you, when I saw the G500H, I decided it would be a VERY reasonable compromise. I can't wait to get it installed.
I will miss the simulated ILS approaches and how easy the Chelton is to use etc. The Chelton has been amazing as I have worked on my Commercial and Instrument ticket. Putting an IFR certified Chelton/Cobham system in a single engine, VFR ship is probably not the best investment for me.
Chuck