A well calculated SMPS with several L-C output filters (2 to 4) could make the job. Also usying high frequencies will lower the L and C values (if working in small PCB)...
SMPS + LDO would be ideal, as most noise would be "clipped" and dissipated by the regulator, giving a perfect smooth output. You can do that, as your output power is pretty lower than input.
500mA * 5V = 2,5W = Pin
600mA * 3,3V = 1,98W = Pout
Pdmax= 500mW
Vreg=500mV --> To say, you should put about 1.25*Vripple+Vmin
Iout=600mA --> Pd= 300mW.
Then, the less the ripple, the lower Vreg can be, which means HIGHER EFFICIENCY.
Efficiency = Po / (Po + Pd) = 86% theorically, maybe 80, but with lower Vreg, 90% can be easily reached.
Hope being useful, tell us how you managed to.
Bruno.-