I have several M500s among my ribbon-mic collection.
When you say "sensitive," do you mean "fragile?" The M500 is more sensitive than most ribbon mics but less fragile. It was designed as a LIVE vocal mic, so it is not a blushing violet which needs pampering. It has plenty of blast protection built into it. You might want to disassemble enough to see that those protectors are in good shape. I have had a couple where the glue has failed between the motor assembly and "final" blast protector, but you should be able to hear if that's so simply by moving the mic when it's plugged in.
Be careful when using phantom power. Try not to drop it. Don't blow into it. That's about it.