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As you move from P1 to P4, the ending side weight increases as well as the finger weight. Based on the principle of statics alone, the ball should go longer with more backend, as you move from P1 to P4 with your balance hole, if the ball isn't going too long already.
P1 holes will make the ball roll earlier, which can make the ball hook more on an oily lane if the ball is going too long to begin with. P4 holes will make the ball go longer before hooking. It's not rocket science. =:^D
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Since people want to talk about data, I will provide data. I would like people to guess which one has the P1 hole and which one has the P4 hole.
RG/Total Diff/I-Diff
2.507/0.070/0.031
2.518/0.050/0.017
Both balls were assymetrical to start and drilled the exact same way pre weight hole.