Been researching for awhile...
I have no direct experience, this is only the impressions I have gotten from looking into it for a few years
The cars dont have a shock/spring, they basically run a canister that contains what is pretty much a bumpstop. This makes them not so much fun on rough courses from what I have read. (If your interested in hillclimb, might think other cars because of this)
If its got a 440 motor, its not worth messing with (unless autox only).
F600 will be much more expensive than F500, there are tons of F500s as they have been built since the 80's, but the F600's are a newer thing. Figure a running F500 for $6k-$15k and an F600 from $15k-$23k (those are very much from the hip numbers, and only meant to be a general idea) Generally, conversion from F5-F6 is going to about cost the difference anyways.
The frames can crack, inspect inspect inspect. Especially around where the motor mounts.
Biggest learning curve might be clutch tuning. Seems that it makes most of the difference.
Are you sure that F600 is the national class now? I thought F600 was the regional only, at least until it was off the ground. Havent kept the closest tabs for awhile. Either way, when I was, the F600 has individual inlet restrictors to keep parity with the F500 cars.
Is SOLO-2 (AX) of interest to you? FM is the class, and IIRC there are some minor front end changes that you make for it to work really well. Maybe also gear changes (final drive).
Do a LOT of reading on legality of rollbars, there are some that ARE NOT roadrace legal. (IIRC, look for something later then 1995ish to be somewhat sure, but RESEARCH IT) The ones with too small of a rollbar will basically have to be cut in half and rebuilt to be made roadrace legal, so they are basically autocross only cars (and dirt cheap, these are the $2k-ish cars).
Here are the usual haunts, I basically spent a good amount of time reading without joining.
http://www.formula500.org/forum.php
http://www.formula600racing.com
http://f500.us/
http://www.apexspeed.com/
Be warned, there is some infighting between some of the bike motor guys and some of the snowmobile guys, best not to step on that landmine.