I understand that going round at 500 ft is not the most ideal of situations but as a fairly new PPL,I think it is better than nothing as long as full touchdown glide approaches are regularly practiced in the circuit,because going round at any height is not as good as actually getting the thing down.I ofted also practice PFL's from the overhead to full touch-down and these are most satisfying when they work out as intended.However,as I get more experienced I shall take my "away" PFL's lower and lower and just hope that if I hear "the great silence",then my practice up to this point has been enough.
Best Wishes