The switching fabric is always active on all SRPUs that are not in a failed state, on all members of an IRF pair (and later on an IRF quad) of 7500s.
On a 7506 chassis, each 384Gbps SRPU will provide 24Gbps (half-duplex) of bandwidth per slot. Redundant SRPUs are therefore required to avoid 2:1 oversubscription for 48 port Gbps or quad 10Gbps LPUs.
On a 7510 chassis, each 384Gbps SRPU will provide 12Gbps (HDX) of bandwidth per slot. Each 768Gbps SRPU will provide 24Gbps (HDX) of bandwidth per slot. If you the simple math, you can have anywhere from 4:1 oversubscription with single 384Gbps SRPU up to 1:1 with dual 768Gbps SRPUs.
As a general rule of thumb, don't bother selling SA modules and aim to sell SC and above due to the routing limitations highlighted by another poster. It was suggested to me that LPUs revert to the common lowest denominator when combining module types with regards to table capacities so in any scenario be mindful of your expected requirements in that regard when building 7500 chassis designs.
When answering non-blocking requirements, the 7500 family is to this date going to provide that for 48 ports gig linecards and 4 port 10Gbps linecards. Current backplane architecture (2 XGBUS per slot with each 4 XAUI clocked at 3.125Gbps) does not suggest future capacity upgrade will be possible for this chassis. We have the 9500, 12500 and now the new 10500 for customers with higher 10Gbps density requirements.