In general, the optical configuration of angularly multiplexing holographic memory system is complicated because optics for both signal and reference beam are necessary. As an attractive candidate for a compact holographic memory system, we have developed a Monocular architecture and examined the feasibility of 500GB system using this architecture. In this study, high density recording for 500GB system was achieved by a new test-bed composed of a blue laser system and high NA objective lens. In addition, tolerance analysis for margin allocation was performed to make clear the technical difficulty of 500GB system.