I know that some folks cut bulk film and resale but it requires special templates and cutters. I would just by Pan F and call it a day. Recon film may have a different base than 35mm, but the development time are likely the same as for Pan X 35mm.
You could cut this down to 35mm size if you have the equipment for it. Not many people do, so forget that. However, this stuff might be very useable for a LF user. Cutting the stuff down to 4x5, 5x7, or 8x10 sheets would be fairly easy with nothing more than paper cutter. All you'd need to do is rig up a guide to trim it up to the right size. Could be interesting, but geez 500 ft? It would take me the rest of my life to use it up!
Thanks for the link, this a very thin base film, I have used older 35mm and 70mm recon films in the 70's when I was in the Air Force. If the base is as thin as other recon films I'm not sure if it would work as sheet film. I don't know what the developing times would be as it is designed to be processed in a verisamat.