[Just picked up from HD.]

Welcome to the forum, yes it is 500 inch pounds, thing is is that it is a 1/4" square drive in a 12 volt tool.  Not much for impacts in that size but versus the rachet your going to have the impact ability on it that is able to bust small nuts where the ratchet would require manual cracking.  I haven't seen much in a 1/4" impact sockets, you may be better off going with the 3/8" with 1400 in pounds.  The thing with the 1/4" square drive is the size is the limiting torque factor, something to just keep in mind, if you need power go bigger or go into the 18v line.

Good to know, I've been debating trying a dedicated 1/4" drive for auto work. I use the heck out of my DCF883 but it would be nice to start adding to my M12 collection. Milwaukee kicks serious butt in 12v vs. Dewalt

[Just picked up from HD.]

Does anyone know how much torque the 1/4" Fuel impact wrench has? Milwaukee shows it at 500 inch pounds but that doesn't seem like much to me. I'm hesitant to get one if its only a little more torque than their M12 ratchet