I had a mussel in a tank once. It was really cool, actually. I found it at a local creek and had it in a tank with a sunfish. The only real problem I had was that it was rather large and moved around quite a bit, disturbing the substrate. I eventually took it out because of this. I'd look in the tank in the morning and see large channels through the gravel.
It's true that the larvae are parasitic. If I remember, they are called glochidia and they attach to fish's gills, fins or other parts. It's species specific where they attach. They don't seem to harm the fish in the wild, but in a closed system all bets are off. Some of the adaptations of the mussels are really interesting. The parents will actually (in some species) "lure" a fish to it and release a batch of the larvae into the fish's mouth when it tries to eat. The luring appendages can be as developed as an alligator snapper's tongue. Some look like little fish and the parent wiggles it around.
If you catch, say a bass, and look at its fins you may see little black spots. These are often glochidia. They fall off eventually and the fish is typically fine.