I feel your pain, urbandiva6.
If it helps at all, I read the following on UPenn's admissions blog yesterday:
We ask that you keep your personal statement to 500 words or less. Of course we are not going to sit and count the number of words in your statement! As long as you stay within a reasonably close proximity to 500 words, you should be fine. Any more than this means that we may not read your entire essay. You should keep in mind that the reviewers will be reading personal statements from multiple applicants so writing a long statement is not likely to be a plus.