But what you're doing by adding a short extension tube to a 500mm lens is a very small change, and in terms of effective aperture and depth of field reduction
And a short tube would also be a small change in the MFD.
I found a calculator on this site/page that allows you to determine the MFD/Magnification with different extension tubes:
http://www.cambridgeincolour.com/tutorials/macro-extension-tubes-closeup.htm
BTW, the native magnification ratio for the Nikon 500/4 VR is .145 (1/6.9) and the native MFD is 4000mm (4m AF).
The calculator shows that 25mm extension gives .2x and 3662mm MFD; and 68mm extension gives .28x and 2920mm (less MFD reduction than I guessed).
We can now use a DOF calculator to see how the different MFD's affect the DOF.
Using a FF camera (more DOF for a fixed distance/settings than APS) I get these numbers w/ a 500mm set to f/8.
00mm extension @ 4.0m MFD= .03m DOF
25mm extension @ 3.7m MFD= .02m DOF
68mm extension @ 2.9m MFD= .01m DOF
To get the .01m DOF back up to .03m you have to stop down to f/16... and .03m DOF is awfully thin already.
BUT, keep in mind that this DOF penalty is primarily due to working at shorter focus distances. If you add the 68mm extension tube and shoot at the same 4m distance the reduction in DOF is much less notable (~.025m instead of .03m). The further the focus distance is, the less the DOF penalty is. And the loss of light is only ~1/3 stop (maybe less).
This is (probably) the point Richard was trying to make. When working out at the focus distances you can currently use there isn't much loss/penalty from adding the extension.
The real penalties only come when working at the shorter distances that you can't currently use.
So the question becomes, are the small penalties overall worth the increased usability/range/cost? IMO, the increased focal range isn't very "usable" for what you're doing, but the costs aren't very great either... IMO, it probably really isn't worth it and a better choice would be a different lens (probably even if it requires cropping). Tough call really.
BTW, I found an interesting tidbit about the Nikon 500/4. You can reduce the MFD to 3.85m just by making a manual focus override (FWTW).