Great site, very helpful, helped me rule out a number of potential causes for this.

The drum will turn but there is zero heat. I tested the thermal fuse, heating element assembly, high limit thermostat and cycling thermostat with a multimeter - all turned out fine. I opened the control panel and discovered that the red wire that runs from the selector switch to the timer was burnt out and had green corrosion at the point of contact with the timer. Follow-up inspection revealed a discolored wire at the terminal block. Find pictures here: Dryer - Imgur

Any theories as to what happened? Will it be sufficient to replace this red cable? Do I have an issue at the terminal block as well? If so, do the terminal block and/or plug have to be replaced as well?