
I know, I know. Please forgive me.
Phil,
Are you refering to the resistor (porcelain deal) on the left inner fender? That appears to be an aftermarket resistor. Those were typically used to reduce the voltage going to the ignition system. Some electronic conversions and some coils required the use of an additional resistor, with the stock resistor wire.
From the color of the wiring, it looks like that is the case with your truck.
Also, the porcelain resistor may have been installed to replace a defective resistor wire, also.
As an aside, from where the resistor is installed and wired in the system, it appears the "start" ignition power could run through the resistor. This could cause harder starting than necessary.
With the ignition "on" you should check the voltage at the (+) terminal of the coil. The voltage should be 8-9 volts. If the voltage is much less you should find the problem and correct it. Low voltage can cause a number of problems, none of them good. Higher voltage will reduce ingition component life.
The original Ford resistor is a "resistance wire" grouped with, but not in, the main under dash wiring loom. The resistance wire was usually pink in color and covered by a braided cloth loom.
Hope this helps.
Roger Carter