Pros: Adjustable Face and weights, real PX Black shaft, PVD finish
Cons: Loft is not independent of face angle.
Originally selling for 500+, this offering from Callaway is now in line with their current drivers. What this one has that sets it apart is the real Project X Black shaft and an adjustable cog that allows for 9 settings (3 main and 6 sub) for face angle/loft. Additionally it has the weight kit to change swing weight and to fine-tune ball flight for fade/draw bias. If that is not enough the club also has a cool wrench, a magnetic close headcover, and a Golf Pride New Decade matching grip. This club is hotter than my Diablo Octane Tour and has the customized features which are easy to adjust. The crown is solid black with no graphics and the face is all black with the PVD finish. It sets up great and has a look that inspires. Cally only produced 6,000 of these so they are getting harder to find. The PX shaft is a good fit on the launch monitor and is usually an upgrade charge with most companies. If you get to demo this club, you will put it on your short list or in your bag. It's that good.
Update: I have the club set up to S+ which is .7 degrees open and effectively lowers the loft .3. This is producing a penetrating ball flight and with the weights set up to 6g heel, 8 gram toe I am getting a straight to straight draw. This club is forgiving and the only way I can tell a slight mishit is from the sound. The sound is fine and it has come a long way from the old sound that Cally's used to make.
I called Callaway to get the settings for the 9 positions (Open, Square, Closed and +, *, -) as they are not published. They are as follows:
Position/Face Angle/Effective Loft