Thanks @rastro.. I'll take a look at the EL panel you linked. I would really like LEDs here too, but then you have the problem of the symbols like V, A, DC, AC, omega, mu, etc. One would have to decode the protocol on the display cable and also create a new display with all those symbols too as backlit individual leds. It all seems like more trouble than it's worth.
For the fuse, it's just an old style 1/8A / 250V slow-blow fuse. The resistor takes some time to heat up. If there was an in-rush current it won't overheat, but if it's a prolonged over-current condition, the resistor heats up and melts the solder at its end. The spring pulls it back and away, breaking the circuit.
I just replaced it with a modern MDL 1/8A slow-blow, as I had them in my parts drawers.