[golfer1]

The latest tip in Golf Digest this months states that by shorting the club length by gripping down on it 1" reduces the loft and carry by 1 club length. So you could just just choke down on your 3 wood to make it a 4 wood. The next time you watch the pro's, notice that they do this quite often, especially Tiger.

My point is that your going to miss having that 3 wood on Par 5 holes, unless your a big hitter off the tee. And even if your are a big hitter, that occasional pull or slice off the tee will make that Par 5 that much longer.