1" cordierite @550 will probably give you a quick baking time (less than 5 minutes) with good oven spring, but if the temp is lower than that, you're going to have long baking times/oven spring issues. Unless, of course, you mod the oven in some way. Getting an extra 50 degrees with some sort of oven trick shouldn't be too difficult, but it is convenient having a stone material that's conductive enough to give you quick baking times without oven tricks.
Soapstone is more conductive than cordierite, and will give you 4 minute pies @525, but, if your oven can only do 500, then even soapstone can't do much with that.
It's taking me months to come to this conclusion, but, for the seemingly large number of 500 degree or less oven owners, the only answer is 1/2" (or thicker) steel plate. Cordierite has a conductivity of 3, soapstone is 6 and steel plate is in the 30s. This will deliver a LOT of heat to the pizza at much lower temps. As much as I've loved soapstone in the past, because of it's
1. relative lack of availability
2. vast pricing fluctuations
3. identification issues
4. unsuitability for lower than 525 ovens
I've made the decision to start recommending steel plate. It's not dirt cheap, but, because it will give you the fastest possible baking times, it's the superior choice. Using a more conductive material, and, if necessary, turning the oven down, is always be easier (and safer) than using less conductive materials and having to potentially mod the oven. Unless someone happens to have a freakishly low 450 or less oven, steel plate is the only material that can guarantee quick baking times without oven tricks.
As far as the lack of absorption goes, this has been discussed extensively. Cordierite, the traditional pizza stone material, absorbs very little water, so with non absorptive materials such as soapstone and steel, the difference is negligible.