The tip of the shaft will not be any good. You might get 4 or 5 - maybe even 10 rounds in, but it will break. If it has been heated high enough to soften the shaft and it was bending, it's only a matter of time before the tip breaks off. The rest of the shaft should be fine, so if it's a driver shaft, if you tip it 1" you can use it as a 5W shaft or 1.5" for a 7W. Only tipping it .5" for a 3W shaft probably won't result in removing enough of the weakened portion to ensure the tip will be strong enough to keep from breaking.

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Gord

Quote of the month:
"It's easy to see golf not as a game at all but as some whey-faced, nineteenth-century Presbyterian minister's fever dream of exorcism achieved through ritual and self-mortification." ~Bruce McCall