No, you were correct.Not doing very well, am I? It was all those wires that threw me
The small transformer is on the LHS, and it does have a long choc block on top.So the small transformer is on the LHS with the row of choccy blocks on top. What is the block behind it?
The component behind that transformer is the inductor.
However, there are a lot of wires on that choc block, more than you would usually need to supply the on/off relay and the wirefeed motor. Maybe @R Kraft is right, the control method is by a saturable reactor, in the primary circuit?