Pretty much. If you're stuck with a controller that outputs a PWM wave that's not working for you and you've got a few cheap components handy you can build an RC low pass filter on the output that will 'convert' the square wave to an analog level. There are web tutorials around on how to do that.Ok, understood. So you're saying then that if connecting a 2 wire fan to a PWM it's really a flip of a coin whether it'll work or not?
If it were me I'd just use a Zalman Fanmate 2 - it'll work on all fan types and I think the '2' revision is now using a more efficient buck converter instead of a rheostat. The only drawback is that it can't go down as low as the fan will physically go.