I've been looking at this lens, too. It's an intriguing bit of kit
Here's the conclusion to a review I read. I think this guy sums up the lens rather well
"In Conclusion
The Sony 500mm f8 Reflex lens is really a reviewers dream. It is so uncomplicated and of such good optical character ( as far as a lack of distortions and aberrations) it has left me with time for a lot of fun without having to get too technical in testing procedures at all. In a way it is sort of an exotic lens with quite a complex personality. It is truly unique and has to be the envy of other mounts such as Canon or Nikon who do not have an auto-focus model. It is hard to say that it is a specific duty lens, because I kept finding new ways in which to use it. Needless to say, many probably will. I find that it renders color extremely well and I was always happy with the sharpness and contrast of the images. Challenging as it may be, it is a lens that I will personally purchase and find much use for.
Part of the joy of photography for me is the challenge it brings, and this lens will challenge you. What it won't do is break your bank, or your neck, and it will be a lens that you will proudly display in your bag, and use with pride in public. As I am writing this review, I keep thinking of new ways in which I can use it and the opportunities that will present themselves for its use; such as taking it to a Major League Baseball or NFL game, to the beach (er-hem!), or a close friends' child soccer match, and of course to the Zoo or botanical gardens.
As much as I have grown fond of this lens I must warn that it probably isn't for everyone. Some I presume will not like the bokeh, or fixed focal length and aperture. I can see how this could be restricting to situations in photography even if I personally don't find it restricting for my own use. I view this lens as an opportunity not as a restriction, but that is just me. So I will caution those looking at this lens to read this review CAREFULLY prior to making a purchase.
Overall the Sony 500mm f8 holds a worthy place in the Alpha lens lineup. I am wondering why now it took me so long to get one to review and subsequently purchase. I have to rate this lens with mixed results, only if to be fair and objective overall. As a stand alone lens I'd never recommend it, but as a lens to add to a kit I'd always highly recommend it.
If for any other reason as to give a photographer a swift kick in the butt to get them out shooting again, smiling all the way.
As always, happy shooting and be safe!"
-C.Garrard