Yeah, $500 might be though especially with the current exchange rate which is not very favorable to americans going over to Europe at the moment.
We did the 3 Vallees last year and this is roughly what we paid we person:
$350 US-France flight
170 Euros/week lodging in luxury chalet off-season in les Menuires (second week in January)
220 Euros weekly ski pass to the 3 Vallees
And it was worth every penny. The Alpes are unlike any other mountain and the food & service was amazing. If you can afford the trip, don't even second guess it.