If a pin is leverage - 3 3/8 from PAP - the ball will still flare a lot.
Changing the pin-VAL distance (or the pin-PAP line to VAL angle) slightly changes the roll characteristics of the ball. Read Mo Pinel's article in BJI -- while talking about his Dual-Angle Layout system, he also talks about what changing the aforementioned angle does.
In short, though, a smaller angler (and thus closer to the VAL) will result in a "longer and stronger" ball motion; it can let you use a high flare layout (like leverage) but maintain backend reaction (high rev bowlers can actually lose visible backend reaction with "too strong" drillings otherwise). If the angle is bigger (and thus farther from your VAL), the ball has a rollier reaction.
Hope this helps.
