Hi everyone. So based on several recommendations from you all, I bought a 6 amp diode and a 1.5 ohm - 25w resistor off the bay to replace the old rectifier/resistor. The old resistor was broken in half - curious.
The new resistor was larger than I anticipated but I worked out a way to get it in there by adding a piece of wire to connect to the inside bracket for the old wire resistor. The diode went in fairly well allowing for my lack of soldering skills. After installation I tested all the post combinations and got relatively close readings to the stated voltages on the cover. Including an increase in voltage when I toggled the whistle throttle. Then I set up a couple pieces of track and put an engine on it and connected the 1044. Pleasingly the engine came on and increased power when I moved the speed controller. When I moved the direction controller the engine cycled through neutral forward and reverse. And when I moved the controller to the whistle position the whistle blew with a strong sound.
I posted a couple of pictures showing what I bought and the final product. Thanks to all for your help.