"I would think the KAT500 will behave similar to the KAT3 (or the K2
equivalent the KAT100).  So the answer would be YES.
The tuning is remember per band (band segment) and per antenna connector.
On any one band, if you change the antenna associated with a particular
connector, then the tuning will be different (unless both antenna
present exactly the same impedance)."

My MFJ-998 has four memory banks per connector (two output connectors).  By 
tapping the ANT button, you select ANT1 or ANT2 outputs.  If you press and 
hold, you then cycle through the four  memory banks on the given antenna 
connector.

Phil - AD5X 

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