I think the 500 series was a very impressive design, and certainly put other manufacturers to shame! Essentially it took all the best features of the Hoover Dialamatic/Convertible in a cleaner that was lighter, cheaper and easier to use. The hose arrangement and the suction adjuster (operated by a vent) were pure DAM, although the Electrolux cylinder heritage is also evident.
After the DAM/Convertible, Hoover dropped Clean Fan Action in its subsequent uprights, and it didn't make a reappearance until the Turbopower 2 in the 1990s. In the meantime, both Electrolux and Panasonic brought out machines that were very similar to the overall design and appearance of the Hoover, the 610 series and the Jet-Flo respectively. The Hoover design was very ahead of its time, but as the top of the line cleaner it was also expensive (in the UK at least), and didn't seem to sell well at all - they're all quite rare (for Hoovers!) in the UK now, especially the post 1975 versions. Shame they let other manufacturers develop the design instead of refining it themselves.