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Armour of Caldor
5 Phoenix Guard
1 Lion Chariot
So far I've done rather well with this list.
Wow. I don't have much experience with 500pt games, but I'll try to help out.
You could drop your Kitty Kart for a Tirannoc Chariot and save yourself 55pts. Use those points to upgrade your Spearmen to Seaguard with shields and a musician for a toal of 53pts. That would bring some shooting into your list, which is a lot more deadly in low point games.
You could also drop your PG Champ for a Standard Bearer in your LSG. I might also consider swapping the PGs for Swordmasters or Lions. PGs biggest advantage is their staying power, rather than being able to downright kill the enemy. If it's shooting that you're worried about (4+ ward) you could always go with Lions. S6 is devastating against Knights, Chaos Warriors, and other heavy armor (you have nothing to really deal with that right now). Swordmasters would net you a lot of attacks, and S5 is still pretty good for chopping up enemy armor, while 2 attacks will make a big dent in enemy troops.