Keeping your arrow under 500 grains won't be a problem, but finding 5/16 shafts that are stiff and light enuf may be. The normal soft woods, POC, fir and spruce, will be 11/32 at your spine, and average around 11-13 gr/in. Hardwoods like ramin can get you the spine, but are going to finish out at more than 500 gr, esp in a 29.5" arrow.
If you have been shooting carbons for a while, and 11/32 wood shaft is going to look a little different, but you will get used to it quickly. Have them tapered to 5'16 and your nocks will be about the same. Wood arrows have been serving archers very well for many years, long before alum or carbon were even a twinkle in an engineer's eye.