Have a few ?'s about Irons

You aren't really losing distance, unless you insist that a nine iron is a nine iron is a nine iron. I would suggest against that, unless the club-fitter says otherwise. You just have to learn a new distance number for each club, and that's likely to be reasonably close to the old ones.

Sounds like you're trying to make a progressive transition set, akin to something Cobra sells, albeit yours is aimed at your handicap instead. I haven't tried this, but I did toy with the idea of getting a set of irons aimed at low-double digit handicappers and gradually introducing them into my bag.

IIRC, Jim Furyk does something like this: has irons 5-9, and then his 3 is really a 3.5 or 3.3 ; a bit weak for a 3-iron, a bit strong for a 4-iron. The issue is, he isn't really in that range all that often, and I doubt you are either.

You could, but I wouldn't suggest doing that unless you have a professional club-maker handy (and they're very adept at customizing heads). First off, the 695mb and MP-67 are blades and the Fusions are (basically) cavity backs. The center of gravity is different on blades (higher), so they hit the ball on a lower trajectory compared to cavity backs. My concern is that if you lower the loft of the blades, your trajectory may be too low resulting in shots that lose carry and don't generate enough spin to hold the greens.

I don't know anyone specific who has done this with these sets of clubs, but the idea in not new and has been used by some players including pros. If you want to check them out, Titleist makes the 735cm, which is a progressive set that you're trying to achieve by blending cavity backs and blades. I think Nike makes a progressive set as well.

Is there a problem with your 4 iron causing it to go the same distance as your 5 iron? The reason why I say this is because there should be a noticeable difference in distance between the two. By de-lofting your 3 iron, you could be making it the same loft as your 4 iron (albeit with a slightly longer shaft). So, I fail to see how this is beneficial since you already have a 4 iron.

I'm sorry, I meant no offense. I didn't mean to suggest that you couldn't hit your long irons well. Merely, I was trying to find out why your 4 and 5 iron go the same distance because I've never seen that before. I've played with some pretty bad golfers (some days I am that bad golfer), and while they may not hit their 4 iron as consistently, it usually does go farther than their 5 iron.