Yes, you are right that the student in that scenario would be intact in the scenario I gave. (Though the skin of the hands might be a tad crispy right?)
If that same student dropped a wrench between case and busbar, then the result might be a rather melty
arc flash, correct?
I grabbed a volt
meter and did a resistance measurement between pinched fingers on each
hand. The lowest value I got including licking my fingers was about 300,000Ω. Doing the math using
Ohm's Law, this corresponds to a 0.4mA
current flowing through my body at 120v, which works out to 0.048 watts. That's not remotely enough energy to cause burns. Using the 300Ω value
this article indicates as the internal resistance of our body which would be a worst case scenario, that means 400mA would flow through the body, which would be 48 watts of
power. Over time and a small enough surface area that could eventually cause burns I suppose, but it is very unlikely for a person who was standing up when shocked to remain in the
current path for more than a fraction of a second, so it seems unlikely enough heating could be done to cause burns. 400mA of
current is more than enough to be a big problem though -
GFCI breakers trip at 5mA, which is considered reasonably safe.
Yes, a wrench between anything hot in the rack and anything grounded would very likely cause an
arc flash. For comparison,
Wikipedia's Arc Flash article gives an example of a 480v
arc flash with 20,000 amps available for 10 cycles as 1,600,000 joules worth of energy, equivalent to 0.8 pounds of TNT blowing up literally in your
face, assuming you're not wearing an
arc flash suit. A 120/208v panel would be somewhat less than that, but for comparison, the worst case
shock example above is about 8 joules of energy (assuming the same 1/6 second timeframe).
Both arc flashes and shocks are bad news and both can be deadly, but they are very different scenarios.
Edit: For what it's worth, I find YouTube at least as scary as any horror movie. There are a number of electrical deaths caught on camera for your viewing if you have a strong stomach and wish to be motivated to be more careful.
The scariest picture I've seen in recent memory is the remains of an AV tech's arm after he disconnected a camlok
connector that was still under load. Be careful out there - appendages don't grow back, folks.