Yes. It would lower the torque of the shaft and also make it play stiffer than standard. As far as tipping to get to a specific flex, it all depends. Every shaft is different. Every club is "different". I usually tip 1/4", sometimes 1/8", and go from there, until I reach the results I, or the customer, wants. Example, I have the Tour Ad 7X in my 913 D3, and tipped it an extra 1/2". I'm playing with my old 909 D2 with a PX  Blue 6.5 and it's tipped an extra 1". I have a ton of other shafts that are tipped differently. If you order your shaft through your local Titleist rep, they can special order a shaft for you, tipped to your liking (at no additional charge). 

The best thing to do would be to visit your local Titleist rep and have them fit you for a shaft. That way, you don't have to second guess anything. 

On the Diamana S+62, if you tip it one inch, that will get it to about 1/3 a flex stiffer than the reg flex.

i have a Diamana blue S 72 R Flex in my 913 3 Wood. If i have 1" taken off the butt end how will that impact Flex and what what weight would I need to place in the club head to maintain the clubs swing weight.

TIA

casa 

Hi,  If you cut the butt end of that shaft 1", it will not affect the flex.  However, your swingweight (if you had the standard grip), would drop to about a C6 from a D2.  You could order a 14 gram weight from your local shop, but that will only get the swingweight back to C9. To raise that swingweight back to D2, you could put on a lighter grip.