I didn't quite get "I wouldn't run a 10W chip on resistors at any current for which you want a 10W capable chip" though, do you mean that the heat output from scratching all that current would just be ridiculous? I am suddenly concerned as I was rather hoping that the use of resistors would actually lower the overall temps. I should point out that I have no physical experience of this bar creating a multi fan rheostat some years ago with resistors and a switch block.
Yes, I wasn't very clear.
What I mean is that I would be quite happy running a chip capable of 10W on resistors, only if it were at a tiny fraction of its rated current. If it's rated for 3 Amps (like the Cree XM-L) I would see no problem setting the resistors for a current of 60 to 100 mA and it would probably run forever. If they get overdriven by four times the expected current, big deal - as long as they have adequate heatsinks they'll be fine. If I were doing that, though, I might as well use chips rated for 700mA or less, which are much cheaper.
As for resistors reducing total heat: if they're providing a significant slice of the total resistance, they're converting a lot of power to heat. If they're not providing much of the resistance, the current will fluctuate significantly with small temperature changes.
Using a mosfet-based constant current driver (as few as four components), I'm happy to put 19.3V of LEDs on a 20V power supply, with 0.6V used by the driver, and an extra 0.1V left as a buffer. Using resistors in series with LEDs (even at low current), I would want the resistors to eat at least 10% of the voltage, meaning only 18V of the 20 can go into producing light. Building the drivers is a bit of work, though, and they're only cheap if you mean to build 50-100 of them (and then they're not cheap in labor).
Also, consider how a small change in Vf can create a problem:
Three white diodes in series, 700mA at 3.2V each gives us 9.6V. The resistor is going to take up 2.4V, an excessive 20% of a 12V supply.
R=E/I = 2.4 / 0.7 which is about 3.43 ohms. Just say we make up exactly that much resistance.
Now it's a stinking hot day and the LEDs get a bit hotter than ever before, and their Vf for a current of 700mA goes down to 3.1, so if they were still at 700mA they would only eat 9.3V, leaving 2.7
I=E/R
I = 2.7 / 3.43 = 1.11 Amps
To keep the current at 700mA, we would want
R=E/I = 2.7 / 0.7 = 3.86 ohms
1.1 Amps isn't actually the current it will draw (we need to test to find out the real number), but it will be somewhere significantly upwards of 700mA. This just shows that a small change in Vf can make our resistor calculation badly wrong, and even using a massive 20% of the power for the resistor, the LEDs can be overdriven.