MTB Groupset Hierarchy

Thinking of getting an MTB for around £500 for messing around on and taking the kids round the local trails etc (all riding is road at the moment). What's the Shimano and Sram groupset equivalents of each other (i.e. is Shimano XT=Sram X7 etc)?
Carlsberg don't make cycle clothing, but if they did it would probably still not be as good as Assos
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X0 - out on its own
XTR
X9 - Nearly up with XTR
XT
X7 - Nearly up with XT
SLX
X5
Deore
X4
I'd say that SLX and X5 or Deore and X4 are nearly equal, if not completely equal.
I guess then for £500 I should be looking at X5 or SLX?
X5 or SLX will be good on a £500 bike, yes. MTB manufacturers tend to mix groupsets up a bit, so don't be put off if you see, for example, a Deore front mech on a bike which is mostly SLX.
its not a huge difference and its not something you would ever notice, so if you want to save a few quid, go for sram
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