I purchased these sheets about 6 months ago--- I am a big fan of Overstock, but there is NO WAY these are 500 thread-count sheets!
1) They came in an unmarked clear plastic bag and felt thin initially. I immediately washed and dried them to see if the texture/feel would improve. It didn't. They are extremely thin and not luxurious.
2) The fitted-sheet is designed too deep. It will fit snug as soon as you put the sheet on, but after sleeping on it for one night, it does not stay taught. There is a noticible amount of extra fabric, which creates a very wrinkled and sloppy look. You'd have to take off and pull each corner tight every morning for a clean and fitted appearance.
3) Another strange thing is that the flat sheet is not symmetrical. I've noticed when I fold it that the corners won't line up. Something about the stitching or the cut of the fabric is off. It is far from a perfect rectange and has a noticable skew when being folded.
4) On a good note, I have not noticed any pilling with these sheets.
OVERALL: I would return this set, but I feel like its more of a hassle than I have time for. I still use these sheets, but they are far from my favorites. I would NOT purchase these again and would definately NOT recommend to a friend. I expected a much better quality and feel a little 'suckered' from this purchase.
Hope this helps! :)