Pinyo, it does (and it does offer a split second chance for the face to close), but it's primary purpose was to get the weight back (which helps get the ball airborne). This is all assuming I understood Tom Wishon correctly. I've lent the book to my brother in law, so I can't double check right now.

For those that are interested, the book is "The Search for the Perfect Golf Club" by Tom Wishon.

It's an outstanding read. A must read, really, before you buy another club.