[b]First of all min size wire should be 20 or 22. You start to get into 24 awg or smaller, they tend to be more easily damaged and harder to make connections. The down side or bigger wire is weight. However the small runs you make to those few items with over sized min gage wire is negligible.
here is some data from many sources to help you size the fuse. Regardless of current carried you are protecting the WIRE, that is it, period.
Gage......max.............max.............max..... ......max (AMPS)
............chassis......transmission.....Bundle.. ......Fuse
20............11.............1.5.............1.03. ...........30.1
22.............7.............0.92............0.651 ..........18.9
24............3.5...........0.577..........0.409.. ........11.90
max chassis = short runs, max operation (intermittent, not recommended)
max transmission = long runs based on voltage drop
max Bundle = based on temp rise & cumulative effect of a bundle of wires
max fuse = estimate about when the wire will glow and burn out
Even if your LED is only say 0.022 amps use a 20 awg or 22 awg for durability. Than install a fuse, 1/2 amp, which is plenty for the load and well below the wires safety margin. It covers the load and is way below the working or max amps the wire can handle and no where near fusing. remember the fuse protects the WIRE only not the device.
There are three criteria to picking wire gage:
Voltage Drop (based on operating current and length)
Temp Rise (based on operating current and where and how wire is routed)
Practical (Min gage, easier to handle and less likely to damage)
In the engine compartment I like 18 awg for durability. I don't like anything under 22 awg, 20 awg is nominal. If voltage drop or temp requires it (landing light, heated pitot) than 18 or 16 awg, by all means. In a Boeing 777 they use lots of small gauge wires (24 and less) because they have several 100,000 miles of it. It adds up weight wise.
You could (in theory) go with a blanket wire and fuse of 18 awg wire and 10 amp fuse, it would handle probably every cuircuit in the plane. The extra weight of 18 awg over 20 or 22 adds little weight in a RV, a few pounds. There is no doubt 18 awg wire is easier to handle and stonger. For avionics 20 or 22 awg is required and needed to make connectors for the practical reason of physical wire diameter. You just can't wire a 24 pin connector with larger gage wire.
The crazy thing is Mac trim servos sells that bundle wire harness that goes to the servi, using 24 or 26 awg. I made my own harness with 20 awg. I added a few ounces, but I had little confidence in those tiny wires.
Fuse? That is easy after load of the device and wire size is decided. The fuse has to be big enough to handle max operational load and well below wires fuse.
some secondary info:
Gauge....*Dia.......**Area...***Resistance....**** Weight
AWG.......mils.......sq. in...........ohms(1000ft)......Lbs(1000ft)
18.........40.3.......1.28E-03.......6.395...............4.91
20.........32.0.......8.02E-04.......10.17...............3.09
22.........25.3.......5.05E-04.......16.17...............1.94
24.........20.1.......3.17E-04.......25.71...............1.22
*Diameter of the wire itself in thousandths of an inch. Values shown are for SOLID copper wire. Stranded wire will generally be 10% to 15% thicker.
**Cross sectional area of the wire in square inches. Example, AWG 24 wire has an area of 3.17E-04, which is 0.000317 square inches.
***Resistance, ohms for 1000 feet of wire. To get the resistance per foot, simply divide the listed number by 1000.
****Weight in pounds for 1000 feet of bare wire. To estimate the weight with insulation, add approximately 25%.