I just noticed I left the "Setup" in the mockup. This wasn't intentional, just a remnant from the original screenshot, sorry if it led to confusion.
This was meant to be presented as a separate non-physics constraint, similar to a transform constraint.
The idea, when combined with physics, would be to add "Resistance Constraint" after the physics constraint is applied in the constraint order, to dampen movement in a single direction. Similarly to how one may shave off animation intensity of a bone by using a matching transform constraint targeting the parent bone.
Although its most useful to control real time simulated behavior like physics (which unlike animations isn't fully predictable), this could also be useful for non-physics stuff. e.g. one may have an animation with a certain movement range, which, after the resistance is applied, becomes more dampened in a single direction.
It's true that, applied afterwards it wouldn't be true to the physics and could cause some issues, but even if not physically accurate, if the reduction is applied with a sine curve, it would smoothly dampen the movement and can perhaps feel correct enough. Not for very complex things, true, I understand physics relies on the previous position to derive a new position in real time, and in this case would do so completely ignoring the resistance constraint. But then again, it's more of a lightweight solution to prevent clipping and patch up behavior when "bone shouldn't ever be here", or dampen movement just enough to make things feel correct enough.
To specify, suppose the pendulum you mentioned is swinging left. When it reaches 0 it gets into the negatives, it progressively shave off 1%, then 2%, then 3%, then 4% and so on as it gets farther and farther away. Rather than a shaving a constant 50%. The crude formula I posted more or less does this, just linearly (not applied as a flat reduction).
And I should mention again, it doesn't need to be linear. I just cooked it up to demonstrate a non-logical way to process direction without conditions, which probably isn't a surprise to you, but, I'm not that knowledgeable and had no clue, so I needed the confirmation before making this suggestion.
In any case, yes, all of this is made close to obsolete if resistance can be integrated directly into physics, as you considered in your post.
And I agree with the too many sliders thing, a clean UI shouldn't be compromised, lean tools are the best tools.
Thanks for the early reply