The glass fuse has nothing to do with nothing. Its for the fault indicator. All electrical parts are the same between the 005 and 004. The Terminal strip Scobby was talking about is TB16. It only has 2 terminals. The wires are F1 and F2. Measure between them while someone else starts the set and hold the S2, (Start Switch) in the up position. You should get 24 VDC.
Next, you can, if you want, take the A11, (static exciter box) mentioned by Jamawieb out and look at the Volt regulator card, and the Transformers, to see if they are burnt. But sometimes there is no "burnt" items. They are just bad.
I would first take out the A27, (Special Relay box) out and look at the A5, (DC Relay assy) Card. See if it has burn marks on the card. The K5, (Field Flash Relay) is mounted there. If it gets no signal from the S9-1, pin C, (Speed Switch) Then the A11 will not work.
To test the S9-1 circuit, I would use a MM, (multi meter).
1.Get a Alligator clip attachment for one lead on the meter.
2. Take the bottom off the A27. Hook the clip to A5-13.
3. Hook all the C-Plugs back up to the A27.
4. Have someone start the gen set, and hold S2 in the up position for at least 15-20 seconds, while you hold the other lead to the MM on ground. You should get 24 VDC
Also, all the gen set TM's are here in the TM forum. If you need help finding them, say something.