500 will be too small for sure. You'd need a crazy long seatpost.
Looks like their size 500 is equivalent to a size 54/55 frame:
Reach is 397
Stack is 544
TT: 553
HT: 145
Shame there isn't a more standardized way of measuring frames. It seems to vary from brand to brand.
Also...Winspace Hyper wheels can be had for $1200. Several 10% off codes exists which basically covers fast priority shipping. So $1100 USD shipped for DT Swiss 240 laced wheels in a very modern width isn't terrible. Having an easily serviceable hubs is good thing too. The main hurdle is brand awareness.