As has been stated on numerous other threads the Belle update will be available for all Symbian 3 phones (N8, E7, E6, C7, C6, X7 and 500, I don't think I've missed any).
Symbian Belle works absolutely fine on these phones. A quick search of youtube will show numerous examples of people using leaked firmware versions which run fine on these 'lower spec' phones.
Before creating thread after thread after thread on Symbian Belle, when it will be released and what phones it will work on, please do a quick search of the forum as there are already lots of threads with this information.
OR
Visit the official Nokia website as this also contains details of what phones will be able to receive the update.
Sorry if this sounds like a bit of a rant but the forum is being spammed by people creating threads without even trying to check if the information is already out there.