The Intel GMA 500 has been a special problem for Linux. As I understand it Intel adapted the device from some 3rd party and can't publish the specs - so there was no open source driver for that particular chipset.
However only recently has there been some work to reverse engineer a solution
Tee driver for your vid was in the f16 126.96.36.199 build as 'psb_gfx.ko' but APPEARS to be missing from later F16 kernels.
I suggests you install/boot that older f16 kernel as a start and try.
IN later kernels the driver was moved from the 'steging' (experimental) category to ./drivers/drm/gpu/gma500 or similar.