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Master of the Forge
Devastator squad, 4 multi meltas, rhino
Tactical squad, plasmagun, combi plasma, twinl inked-lascannon razorback
Tactical squad, plasmacannon, combi plasma

Why so many melta? At 500 pts do you really think you will be facing that much armor or 2+ save inf?

I would switch them for something with longer range, drop the devs in some sort of cover, give the rhino to the other tac squad for mobility.

At this points level your probably better with missle launchers in your devs. You can krak for str 8 ap3 or frag for hordes

How about swapping out the devs for 2 whirlwinds for hordes?
What about attack bikes as I'm intending on using them for when I up the list to 750pts.

My 750pt list is:

Master of the Forge
Tactical squad; 5 additional marines, plasmacannon, plasmagun, TWLC Razorback
Tactical squad; 5 additional marines; plasmacannon, plasmagun, combiplas rhino
Whirlwind
3 Attack Bikes