I have EX-501 which should be basically the same. Sound is clear and good quality, but i feel it lack bass on high volume. Also amplifer isn't very strong but it should be enough unless you're using high-impendance headphones. Bulid quality and mechanism are reliable and solid, also it last around 24 hours on single AA. I recommend it if you're not a basshead
I have one and I am happy with it. Good sound quality (of course not so good like the WM-DD series), easy to repair (mostly only the belt needs to be replaced, which is available at mihokm's shop) and several nice colors, relatively easy to find in case you need a donor device for spare parts. I also recommend it if you are looking for an easy to use mid-class walkman.
I have a Dc6, a Dc2, D33, EX615 - and for some unknown reason an Ex500. This must’ve been entirely due to price and condition rather than specs or build or SQ, as there is no Dolby and only one AA battery is used, thus the frills are almost nonexistent. However, as an everyday workhorse, it’s probably the one to use, as the others are relatively heavy or fragile to carry around. Frankly, you don’t really miss Dolby, as playback is rather gutsy despite the lowish output, and the smooth metal frame is more suited to portability. Of course, others will beat it for this, that, and the other, but you can’t really do better for the cost - saying that, there are some silly prices now and then on eB*y, so avoid these with gusto. Remember to check out the “Completed” sales as price guides. For sheer overall quality, the D33 is the one to go for for due to reasonable pricing, overall SQ and robustness despite the weight. As with any purchase, always ask pertinent questions about known regular weak points before committing yourself.