Originally Posted by al Asaad

When shooting action shots, set your E500 on shutter priority ("S") at a shutter speed which will let you freeze action.
If you find you must boost your ISO, do so to maintain at least the desirable 1-1 focal length to shutter speed ratio.
Use faster lenses.

Someone will note something about "noise". So what? Do you want the shots or a clutter-free, "noise free" shooting life?
Too many times, if you want the shot badly enough, you'll crank up the ISO and in those instances, simply keep them for home use and don't display them on the Net: case solved: case closed.