I own both and I find the PSR-500 to be more sensitive. However, compared to the 396T, the 396XT has closed the gap considerably and is nearly as sensitive as the 500 on 800 MHz. Everything I monitor is on 800 MHz so I can't tell you about the other frequency ranges. The 396XT is less prone to overload, and that is a major consideration if you are monitoring in urban areas and have trouble with cell tower inerference.
GTO_04
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