If I recall the schematic correctly, that fuse is not in the primary circuit. I remember seeing somewhere that the primary fuse was located inside the subwoofer, which I figured was a dumb way to do things, but then I discovered there are lots of electronc systems made this way. I guess they must figure if the load is severe enough to blow that internal fuse, you'll send it back to be repaired.
Come to think of it, one of my keyboards had three internal fuses, and one was actually soldered in place. Go figure!

If you have an ampmeter, you can plug the system into it and determine if it actually drawing 500 watts. I no longer have one of that capacity so I cannot help you there.
As for the sound, you've gotta' love it.
Cheers,
Gary