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Bought a small lot of futaba electronics lot off ebay. I was hoping that the esc would be the one thing to work but it does not. Every time the switch is turned on the led will come on and simultaneously the fuse will blow. Any ideas why? Took case apart and it looks clean, unburnt, doesn't smell.

Possible one of the fet's shorted? What the heatsink are on, use a multimeter to ohm out each device, may have to remove to test, if good sometimes the low voltage from the meter will turn on the fet's. Fets from others non working ESC may be compatible, check for cross reference. HTH.