I'm a fan of the Kennie decks...although I much prefer the KD-600.
Years ago I tried many arms on the 600, my favourite was the Victor 7045 whilst running an Ortofon MC, other arms included a Grace G-940, Grace G-704, and of course a trusty SME 3009 II Improved.
The 500 is appreciated in many vinyl circles, but speed control can be an issue which is overcome in the later 600.
Fun deck, in this case it would be limited by the arm available.
Oh, regarding the earlier "muddy" bass comment, I don't think that would apply to any of the Kennie TT's...if anything the low fequencies produced have on occasion been referred to as "too prominent", but I'd describe the bass as tight and refined.
Go for it...you have nothing to lose!
Rick.
Kenwood KD-650 w/ Denon DL-103 (wood body, Soundsmith elliptical retip), Lite Audio DAC-83 & LT-1 Transport, Luxman M-05 Pure Class 'A' Amplifier, Luxman C-05 preamplifier, Yamaha NS-1000M (beautifully refinished and upgraded) on custom made wood stands.
I once met a woman who would put up with me...so I married her!