[JhwShark]

Yes, odds are it is a resistor for dropping load as you change fan speeds. Usually when they fail you either have no fan or high speed fan.

The problem is that this picture with the resistor dos not show the typical colored bands (code) to determine the resistance of it. It is not a variable resistor (potentiometer)...it also appears that this may have been replaced IMO based upon the wire insulator.

Alan may know the resistor spec.