Late to this thread, here are my thoughts:
500 mating cycles is optimistic for most SMA connectors. The mechanical nut can keep on screwing on and off for thousands of cycles, but the RF properties have long since degraded. 500 cycles may apply to some SMA connectors from better manufacturers, at low frequencies but that is "maybe" and we should get that in writing, on the specification sheet (parol evidence rule). Verbal assurances are inadequate. For example, if we have an application at 6 GHz and need a large number of mating cycles, we should consider a better manufacturer and guaranteed in-spec operation to at least 18 GHz.
Brass body SMA connectors are convenient but susceptible to deformation, to becoming deformed under a single application of the 0.9 N-m torque wrench. This applies to many convenient surface mount SMA connectors. Any RF lab should have both 5 in-lb / 0.57 N-m and 8 in-lb / 0.9 N-m SMA torque wrenches.
SMA mating cycles depend a lot on the integrity of materials (both the metal and the dielectric), plating type uniformity and thickness, and both manufacturing QA and machining tolerances. To reduce material cost, some manufacturers use recycled teflon as dielectric: recycled teflon isn't such a good dielectric. I recommend routine incoming inspection of new connectors using a stereo or trinocular inspection microscope. We can see a lot if we bother to look. We can see things that knockoff vendors assume we will never look at. Good practice is to avoid the cheapest possible connectors, and purchase new SMA connectors made by well regarded manufacturers such as Cinch, Amphenol SV Microwave, Huber+Suhner, Pasternack, Fairview Microwave, Wurth etc. We don't need the most expensive SMA connector to make a good project, we just have to avoid the cheapest and the ones with significant manufacturing defects.
My rule of thumb for longer connector useful life is to use stainless steel SMA connectors, and for prototyping and development use 5 in-lb / 0.57 N-m breaking torque because I want multiple uses without performance degradation. When shipping a product with stainless steel SMA connectors, I use 8 in-lb / 0.9 N-m (Cinch Johnson brand gold-colored torque wrench). For a quality 18 GHz stainless steel SMA connector, we can often get 20 (twenty) mate cycles for properly applied 8 in-lb / 0.9 N-m torque without degradation, still within electrical specifications at 18 GHz after 20 mate cycles. The connector will remain in-spec at lower frequencies for more cycles. AFAIK we don't see 500 cycles at 18 GHz.
For brass SMA shells, we should only use 5 in-lb / 0.57 N-m (for example, the Cinch Johnson brand blue-colored torque wrench). Not sure of the in-spec number of mate cycles for average brass SMA shells.