The AG500 or 1500 is not a mains filter. Trying to measure noise by reducing output attenuation, is simply highlighting the internally generated noise from the internal electronics and power supply; and not necessarilly from the mains. You can run a pre amp from a battery, and you will still hear noise on the output.
Yes the AG500 uses a DC to AC inverter to generate a pure sign wave. I measured only 1.8% THD noise from the AG500. The output is not only stable at 230VAC, but of a very high quality sine wave, driven by a low impedance IGBT inverter, capable of delivering peak bursts of power and digitally controlled thousands of times per second to maintain the pure sinusoidal waveform.
Single phase mains supply is indeed generally pretty good. Voltage varies by approx 10 volts where i live. Though there are many older properties which have poor earthing, which affects the noise floor, and sound quality; especially the bass response.
The AG500 provides protection against mains voltage variations, harmonic distortion, noisy mains, transients, surges and complete mains black outs. It eliminates DC offset issues, and completley isolates the mains, which helps protect my expensive source equipment. I did not buy one just for the potential sound quality benefits.
It depends on how well designed and the quality of electronics in a source, amplifier etc, as to whether the AG500 will improve matters. Some systems it will likely make no percievable difference, especially where the mains supply is of high quality.
You can add capacitance in the PSU to reduce ripple noise, but that also can increase ESR.
At the low end there are some poorly designed internal power supplies out there, which would benefit from mprovements such as lower noise components, voltage regulation, low ESR capacitors to reduce power supply impedance (ESR), Schottky rectifiers to provide high speed and zero recovery time, use of low noise regulators, bypassed with audio grade capacitors. The list goes on. That is why companies such as audiocom international offer internal upgrades.
They give a money back guaranatee, so i personally had nothing to loose. It is good to be sceptical though. That is why i listen to components myself and make my own mind up. Best to let people decide for themselves. It made an obvious difference in my system, and you only have to read the feedback on the internet from using this product. I would have sent it back if i was not happy.
It will also stop annoying buzzing from an amplifiers power supply transformer.
I'd recommend the AG1500 over the 500 for power amps due to higher power consumption but also the ability of the AG1500 to drive more instantaneous power.
For example: http://headmania.org/2013/09/02/power-inspired-ag500-power-regenerator-review/