RER...

Predator Hunter model. $499.00

You want smooth and fast...you got it.

My Orion was a little higher than $500 but I believe the base is pretty close to that.  It is THE bow I would buy again if I had that much to spend and wanted a new one.  

There are lots of great bows mentioned (I love the RERs too) and the right used bow is hard to beat.  I hate to say "best" because I can't decide for myself let alone someone else.  

Another vote for the Quinn Stallion...Mike..

How about a Hoyt Dorado or Gamemaster?  Under $500 and folks seem to really like them.

Take a look at the BlackCreek Banshees, $375-$475, new with warranty.

A Bear Grizzly. They are priced around $300.

amar911...don't want to hijack this thread, so suffic it to say that all of my current bows suitable for elk hunting (poundage-wise)are more than $500 new. As a result, they do not meet the stated selection criteria.
But if some of them were a couple hundred dollars cheaper, I'd have quite a list of additional suggestions!

Claudia

Rose Oak TomCat!!

Predator Hunter then Chek-Mate Hunter2.

for under 500 or over 500 whisperstik either way. shoot one and find out for yourself.

RER Arroyo gets my vote.

I don,t shoot recurves, but yesterday I was at a 3D shoot and the fellow that sponsors the shoot had a couple Bob Lees there and insisted I try one, It was the takedown model, It was a good shooting bow and if I was in the recurve market would have to consider it, the bow, new fancy bolt on arrow quiver, one of them leather hooded ones, bow sock extra string etc, 499.00

Anothe vote for the Quinns, have a 60" #47@ 28, as smooth and quiet as my BW, you could buy a stallion for around $300, have $200 left to buy a extra set of limbs, or arrows, or deer tags.Sam.

Lancaster Archery showed up at ATAR with a pair of Samick Stingrays, RH & LH.  Both made quite an impression.  I personally got to shoot the LH model and was VERY impressed.  For 219 bucks it's gonna be really hard to beat.

Check out the classifed's there are a lot of used bows that will fit your budget and performance needs.

Bow fishing can be hrad on bows I like your camo dip idea but thats the main thing that caught my eye and made me think buy used

Good luck

Another vote for RER.  I also Like My GameMaster.

I picked up an old Bear Grizzly for $100 earlier this year.  Neat little bow for the money!  You can find them all day under $200.

Used/as new custom recurves show up in the classified section all the time for less than $500. Often these are bows that new sold for $700 or more. That's were I'd go looking for the best value in a recurve.

Whisperstick, Kohannah Kurve both start under 500.  Dryad Orion starts at 500.