If your load has zero resistance then there is no need to have a 150V power supply. All of that will be dropped across your current limiting resistor.
You are better off using a single 12V lead acid battery (it will be more than capable of supplying 40A).
If your load really has a zero resistance then all transient conditions can do is vary the magnetic field surrounding the conductor as far as I can tell. That may be an issue if your device is superconducting or if it is constructed in such a way that excess magnetic fields may affect it in some mechanical way.
<shrug>
Still, you could use a similar arrangement to introduce transients if you replace the battery with your battery and current limiting resistor combination.
OK Steve, thanks for that. Yes I appreciate your thoughts about the zero-resistance and the total voltage drop across the current limiting resistors, however we are dealing with some pretty weird loads that dont behave like you might expect - this is the crux of the experiment.