How much will the heatsink cost? $20 per 100W? How much time will it take to cut to length (if applicable), drill and tap holes, grease the parts and bolt them in?
If you aren't having a Chinese worker do it en masse, the answer may be surprising. 
Plan is to use commercially available CPU cooling gear for the majority, which can be obtained at about 0.01125°C/W$ from china.
If this goes anywhere (big "if" here!), I'd expect this to go a little lower@100s. At that point, I'd expect it to few a couple extra dollars ea. to have a
childadult worker fabricate the mounting brackets (Mr.B's clever design means that the heatsinking can be symmetrical & the clamps can be just tapped metal plates).
However, your point is taken, thank you.
Having made and sold many high power linear power supplies, using FETs in linear mode, I can add the following -
There is a LOT of good cautionary advice here ! Adding to them -
Thanks for the advice! It's great hearing from someone who has done this before.
There is at least one thread here going over all of this stuff.
I think this is it, I'll just link it here for anyone following along:
Programmable Electronic Load, 0-5A.
The discussion is mostly centered upon making it high precision, but OP is also working on (and having difficulty) paralleling the mosfets. I might steal some parts of his control design so that I can focus on the heat dissipation for now

The advantage that dropping power across a dumb resistor is of course the fact that the resistor, being a dumb passive element, can run at very elevated temperatures without failure.
For example, here is a 50 watt "resistor" that operates at something like 2,500 degrees centigrade
I really like the idea of dissipating my heat using exposed 500°C wires, but while the electrical design is more straightforward, the mechanical design is quite tricky. Roughly 300cm of 22AWG nichrome wire is needed to get 10ohm.
- the wire needs to be mounted on something non-conductive & conveniently shaped. An 80mm ceramic square would be perfect, but it needs to be fabricated & I can't even find prices for ceramic 3-d printing.
- the copper wires need to be bonded to the nichrome in a way that doesn't fail at high temperature. A bolt & nut would work, but then where would the bolt and nut be mounted?
Light bulbs wouldn't work since their resistance goes from ~16ohms cold, to hundreds of ohms hot. I haven't done the math exactly, but I figure I'd need hundreds of bulbs as an order-of-magnitude approximation.