--- Ok, but the conducting path for the horizontal case will be removing heat from both ends of the resistor through _short_ leads and transferring the heat to the traces. The vertically mounted case will have the heat transferred from one end to its trace through a long lead which will also be radiating toward the body of the resistor as well as giving rise to its own convection currents.
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--- Yes, but in the vertical case the convection currents will carry the heat from the bottom of the resistor along the body until it leaves at the apex of the resistor. In the horizontal case, convection carries the heat from the line closest to the PCB around the body and then to ambient, without creating a temperature gradient up the "pole" standing there in the vertical case.
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--- Probably only where it touches the board, on the bumps over the resistor end caps. There will be some reflection back to the body from the PCB, but how much is going to depend on the solder mask. I think convection, bringing cool air in to the side of the resistor closest to the PCB, will largely negate that, and If I get some time I'll measure both configurations to see what's _really_ happening.
Don't hold your breath though! ;)
--- I think mostly the reason is not to burn up the PCB since those beasties are _designed_ to be abused!
-- John Fields Professional Circuit Designer