That sounds like wishful thinking.I'd try the esc in the steering reciever port since you know that's working.If it works then it might be the reciever and if it doesn't then it's likely the esc.
looks like its the speed controller and i've only had it for a month...it hasn't been overheating. the motor was a little hot around 170 though. Something kinda funny is today is i installed a fan on the esc today and the esc broke the same day...guess I'll be talking to mike about this soon.
I also tried unplugging my receiver battery and putting the black jumper on just to see if there was power...the steering and shifting servos still worked but no throttle. I will be very disappointed if i have to send back the esc it's still new.