Actually, it will probably get more views from folks with 500C experience in the Fisher Forum, so I'll move it there in a sec.
If you're turning the pulley on the outside of the small metal enclosure that has the tuning capacitor inside, it's going to be difficult to turn even on a receiver with a freely spinning tuning mechanism, because you're going backwards against the mechanical advantage of the pulley and flywheel setup.
There are several points where it could be binding:
1. The main tuning knob turns that large aluminum flywheel and brass shaft that has the tuning string wrapped around it. Grab the flywheel and see if you can wiggle it a little bit to see if it's free inside the bushing.
2. There are approximately three small aluminum pulleys that carry the tuning string. Make sure they all turn when you turn the tuning knob.3. The bushing around the shaft on the tuning capacitor.
Without actually fiddling with it myself it's not possible to see where it's binding, but it has to be one of those three areas. You can certainly try a drop or two of WD-40 or any light machine oil on the bushings for the main tuning assembly, and where the shaft goes into the tuning capacitor. Not too much! You don't want it dripping where it doesn't belong.