I've no experience of that model, but my Dad does own the LPR500. He likes it, and thinks it sounds good, but he is as deaf as a post, so I tend not to listen to his opinion on Hi-Fi matters. *smile*
It is what it is, and I guess the 1000 would sound a bit better, but if you're thinking of using it to play your records, I'd think again, because it's not going to do them a lot of good in the long run, and it's definitely not going to sound anywhere near as good as a decent seperate system.
If £250 is about your budget, and you want an all in one which includes a turntable, it might be worth checking the second hand market for something of much better quality.