Ben,
I think it goes like this: most ignition coils are designed to operate at less than full battery voltage, like in the 6-8 volts range. During normal running, which is any time EXCEPT when you are cranking, the ballast resistor is in the circuit. It's job is to reduce battery voltage to 6-8 volts. However, for starting a hotter spark is desirable, so during cranking the ballast resistor is typically bypassed so the coil gets full voltage to temporarily make a hotter spark. As soon as the key is released, the ballast is back in the circuit.
So I'd say yours is good. I'd expect the symptoms of failure to be no spark except during cranking. So the engine might fire, but die as soon as you release the key. If the resistor somehow managed to short-circuit so it no longer provided resistance but still allowed current to flow, it would run well until the coil failed prematurely from overheating.
George Davis
'69 280 SL Euro manual