Peter,
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Furthermore, let's say I skin some insulation off a wire as it's pulled into PVC. Is a Megger going to be able to tell me that I compromised the insulation? My guess is no.
I would disagree with that.
A Megger test shows you the Resistance of the Insulation between conductors and between conductors and ground.
The use of a higher voltage is to adequately stress the insulation.
Now, usually there is a capacitive effect between wires either in a cable or in a conduit to some degree anyway, causing (albeit small) leakage currents and that is with all of the insulation intact in it's original state.
If however, you skin one of the wires, the capacitive effect is going to be a lot higher (ie: less insulation, more current flow) in that particular spot.
A megohm meter would pick that up regardless of the type of conduit.