Okay...lol. That makes perfect sense now. Yeah that's normal behavior. That fuse is placed between the +12V_main and will blow if too much current (>5 Amps) tries to flow to ground, otherwise the PS3 would catch on fire and burn your house down. The schematic warns it's critical for safety
/!\. SO ONLY REPLACE WITH THE EXACT PART. It will blow when something down stream has shorted. It is definitely causing your YLOD, it may not be the only thing, but it definitely will cause one. So scrutinize all the capacitors past it (which is basically the entire power circuit) Replace any that are in short. I just had a look at the schematic and it looks like that fuse protects a bank of MOSFETs. So start here:
- C6320, C6322, 6326 need to be okay or it will short to ground and trip that fuse, before current gets to the MOSFETs.
- Q6305, a SI4392DY-T1-E3 (N-Ch sw MOSFET). Check voltages on pins.
- 2x Q6303, a SI4336DY-T1-E3 (N-Ch D-S MOSFET). Check voltages on pins.
My guess is the fault is there. If not keep going:
- Check the decoupling caps for the filter after the MOSFETs: C6342, 6344, 6346, 6348, R6374, and R6375. Note, I checked 2x of my boards and I was getting ~16Ohms across these caps. So that appears to be normal. There is an identical set of MOSFETs and caps next to these and it gives about 125Ohms. Just be aware that is normal. Both of my boards have YLOD, but with unrelated issues.
- R6338, needs to be good.
- Then continue downstream using the schematic to identify the location of each component. Pres CRTL+F to find each part above press next and it'll show you where it is on the MB. Go to town with the Multi meter! This is what troubleshooting means...

EDIT: Note that's the main power supply to the +1.7v_MISC, IC6602, IC6303-5!!! So every MOSFET and VRM are going to have 0v on a supply voltage pin, like you noted earlier (southbridge, YC_RC_VDDA, VDDIO, EEGS_VDDDIG). So yeah, that fuse and whatever shorted to cause it to blow, may actually be the entire YLOD. This is the area to probe: