I wouldn't buy this for $500, but at $100, the possibility of learning something important is well worth it. I've ordered mine. Thanks for posting this - I would've missed the opportunity otherwise.
What do you think you might learn? I haven't seen very many practical results (as opposed to idle curiosity), except for a few things like lactose intolerance.
EDIT: I've since seen a number of interesting examples - warfarin sensitivity and how well modafinil works come to mind. The latter, since modafinil is pretty expensive, might justify testing at $100 or $200 all on its own.
I suspect this might interest some people here: for today only, 23andme is offering their full-package DNA testing for only 99 dollars (the normal price is $499).
23andme uses a genotyping process, which differs from a full gene-sequencing. From their website:
I don't have any experience with 23andme (though I seem to recall them having some financial difficulties), but the price was low enough for me to order a test.
An article by Steven Pinker discussing his experience getting tested can be found here. This has also been linked on Hacker News.