Everything I've read in this thread is correct but we are leaving a
couple of points out. 

The first is the voltage rating of the resistor may be different between
a 39K 2W device and four 39K's connected in series parallel. 

The other point is that each resistor has a series inductance and a
shunt capacitance. As we go up in frequency the C and L become
increasingly significant, and when we compare the equivalent circuits of
say a single 39K 2W with that of the four 39K at 1/2 watt series
parallel, I'd expect a difference at lets say 10 mhz...

Did anybody mention wirewound versus metal film or carbon film or carbon
composition?

Jim
JKO

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