I'm not sure, but most info I have read re the 500 rule refers to Type 1's, with Type 2 it is more difficult to judge as your level insulin resistance will also affect your insulin requirement. Your DN should be able to advise how to calculate your carb to insulin ratio, but I have found that it is a lot of trial and error until you find the right ratio to keep your BG under control.
More carbs = more insulin which also probably means increased weight as your body converts excess glucose to fat, unless you pursue an active lifestyle to burn the excess off.