I tend to agree more with your MC. If your transference is only about projected traits/attitudes, it would fit your T's definition to me. Successful resolution I think means the feelings match the reality of the nature of the relationship. So if the relationship is paternal in nature, the feelings are paternal in nature, but you no longer need him as an emotional father to your emotional child. You grow up and your feelings mature as your projections fade. It doesn't mean they change in nature, but they do modulate. They no longer hold any ambiguity, shame or distortion. And then the decision can be made whether a relationship will continue in reality.

My T has remained as a father to me for 30 years. But I'm an adult daughter, and he respects me as an adult daughter. I don't have heightened emotional need of him anymore, but the relationship retains the mutual fondness. He didn't become "just another guy" because that would mean that none of my feelings for him (or his for me) during therapy were based in the reality of the relationship. The projections faded with the resolution, but what remained was the essence of the relationship. And it allows for an equalizing of our roles in the relationship. Although ethics demands that I be the driver of contact, he is more free to allow his paternal feelings a place. If he hadn't had those feelings, the character of the relationship would be different--maybe more like casual friends. So whatever type of relationship is there can mature post 100% resolution--if that's what both parties want.