So, with the exception of Thunder Darambia and Zaragas, I have now reviewed the entire first wave of the Ultra 500 line. Overall, I am quite impressed; these are remarkably high quality toys for such a low price point.
The figures feel solid, and are made out of what is clearly a high-quality vinyl, most likely the same material as Bandai's recent larger-scale figures. As with those figures, the material is a pretty good balance between flexibility and durability, clearly designed for child's play but also hard enough to allow for a reasonable level of accuracy and detail for the sculpts.
The sculpts are impressively well done, all things considered; Bandai could have cut some corners for this line, but many of the figures are extremely similar and actually improvements over their larger counterparts. King Joe, for example, goes above and beyond by having a more intricate colour pattern on his chest displays than the six-inch vinyl. The paint application on my figures are virtually flawless; there is no misapplied paint anyway to be seen, and the production pieces match the prototypes very closely. Even the scale, while still not accurate, isn't too far off between the heroes and the kaiju.
For higher-priced and more complex items it is usually easier to find flaws to criticize, but if this line continues to be produced at this quality and price point I don't really have any complaints. Some fans might be annoyed that the figures are significantly smaller than the previous mainstream Ultraman toy line, but the quality of these figures proves that Bandai hasn't taken a step backward in any appreciable way.