Acutally Larry, that was not a 500 in3 engine, but a 501 !!! You were far off, he he. Just kidding. Before that GM made a 472 ci engine (like that wasn't enough).
Nevertheless, I heard that they used to use that engine in some airplanes ,would not doubt it. That engine was intimidating when you lifting the hood. That CADDY today with aribags would cost around $100,000 to manufacture, he he. My best friends mom had a 77 Eldorado and used to take us to school as kids (Smoke silver with black interior) Great airplane (I mean car).
The Toranado was meant for more hot rodding while the El Dorado was a Luxury Cruiser.
'89 420 SEL
'90 300 SEL
'68 Olds 88 Convertible
'84 300 SD (sold it)