While I don't have any first-hand experience with either Bazooka amps or Memphis subs,
this review pretty much says what I initial thoughts were. The amp will do the job without much fuss, so it mainly depends on whether you can get it for a good price.
BUT........
There could be a issue with your sub. According to Memphis, your sub (assuming it's the single voice coil version) is only good for about 250W RMS (let's ignore peak power for now). The ELA500.1, on the other hand, puts out 375W RMS at 4 ohms.
You could very easily overpower your sub with that amp.
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