IMO whether you go with a Contender, G2 or Encore is really just peresonal choice. I did anything I ever wanted to do for 43 years with Contenders, never wanted a G2, and only had my Encores for 2-3 years before reselling them all (because I simply didn't need them and preferred the Contender that would do anything I wanted to do very well). But if you are going to be shooting target at 500 yards, serious or even just play with an ego, buy a custom barrel chambered for the cartridge you choose. Most of the factory barrels are shooters "right out of the box", but not all of them, and they can't match what a well made custom can do, especially at longer ranges. As you already know, there are many commercial cartidges that'll do all the things that you want to do, but even more are available if you are willing to get into the wilcats. Lots of those will do it all in spades and then some, on any of the TC platforms, and many of them are very easy wilcats to make, reload and use with inexpensive dies. IOW you kind of need to buy for the mid range target shooting at 500 you want to do in a cartridge that will also do eveything else you want to do well. Brand new custom barrels can be bought for as little as $300 or so, including the wildcats. I hunted everything with the Contenders (mostly handguns), and did very long range shooting with them as well. Wildcats in custom Contender barrels ruled the roost for hunting and serious long range work from the early 80's at my stables.
HTH
Larry