Yes they did, so you are right.
Well, I've read a few times (can't remember where now), it was thought that the shunts were there simply to perform and electrical function, not a sonic one. I'd definitely disagree with that, but in terms of overall sonic influence, the series resistors had the greatest effect.I'm not aware of any theory which would explain why one resistor should be more important than the other, so no theory needs to be thrown out of the window - only the internet rumour that the "signal path" resistor is the important one needs to be thrown out of the window.
Marco.