Guitar amplifiers are highly non-linear and sound completely different at different volumes. Attenuating the power amp allows you to get to sound, but control the volume. Also, attenuating the front end of a guitar amplifier generally does not reduce volume while drastically changing the sound.
1 10W, 4 50W, 1 70W, 1 100W and 2 150W resistors is not only really expensive ($100+) but would take up a lot of space and would require an enclosure that would be equally expensive. I have found 130W+ heat sinks that will easily fit in my preferred enclosure and don't completely break the bank. This is also keeping in mind that those resistors would have fixed attenuation where I was hopping to get variable attenuation.
Hi
Ok, I see the issue.
The maximum power in the series arm will be equal to the output power of the amp.
The maximum power in the shunt arm will be equal to 1/4 the output power of the amp.
So, the total power of all the resistors in the series arm is 150W *if* your amp puts out 150W on a continuous basis. The total power in all the resistors in the shunt arm is 37.5W.
As you have noted, the shunt arm goes from infinity down to zero. Most of those resistors do not need to carry any significant power. I would just use wire for the low value ones (it's free).
The series arm goes from zero to whatever your speaker impedance is. If it's 16 ohms, you will need some power there. Typically you would use at least two (and more likely more) resistors in series to get to the 16 ohms. One example would be 8 two ohm resistors. They each need to handle a bit under 19W. The max power resistors in the shunt arm is 8 ohms in this case. Two of the 2 ohm parts will do that pretty well.
At this point we have ten 19 watt resistors and some other bits. But are they 19 watt? That's only the case if you run a sine wave tone continually (like 20 minutes) through the system at max drive. There are a *lot* of things in a typical amp that are not rated that way. A far more normal rating would be a bit lower.
So off we go ...
http://www.mouser.com/ProductDetail/Xicon/280-CR25-20-RC/?qs=sGAEpiMZZMtTURnxoZnJAMzhUi3Jq2hdJcch1PkZdrg%3dis the first thing a simple search turns up. They are 25W and 2 ohms. They are fine for audio use. They come out to 99 cents each for 10 and 82 cent for 100. If you back of a bit on the power rating, 10W parts would be about half those numbers.
So we are spending $8 on the series arm and let's call it $8 (for power resistors) on the shunt arm.
That's not a lot of money on the resistors.
Bob