Well, that's not quite the case. Completely redesigned lubrication system, different pistons, rods, and cams, different injection system, exhaust, etc.... The SLR's M113 is a lot closer to the one they use in the E55's, but there's still a load of "special" parts. Don't forget Brabus managed to get over 660 out of an SLR, and they admitted to changing the cams, fuel cooling system, and exhaust to do that.
That said - I have little doubt you could get 500hp out of the M113 that's in the SLR. Just not sure how long it would last. The "oldest" Kleemann SLk I know of just turned 23k miles, and he was running 425ish.
From what I have :
M113 Block : aluminum
Cylinder Heads : aluminum SOHC, 2 spark plugs & 3 valves per cylinder
Cylinder Lining : silicon/aluminum
Rods : fracture-split forged steel
Intake : magnesium intake manifold
Highest "factory" HP - outside special production (SLR ), 2008 SL55 AMG M113.990 at 515hp. Special production, M113.980 producing 66hp.