Walt, I'm same age and about your handicap.  The steel vs. graphite decision is a tough one and I made a mistake last spring.  I bought a non-Titleist set recommended by a vendor that included hybrids.  I was never able to adjust to the graphite irons, gave them to my wife and she hits them better than her old clubs.  I'd suggest that if you have a partner who plays graphite, or know of a club where you can rent some graphite's, give them a try out on the course.  I now have Titleist irons with steel shafts, regular flex, and I love them.  I also bought a Titleist 913 D2 driver and fairway wood with graphite shafts, while I am hitting solid and finding fairways, I don't get the same accuracy or distance of my ancient steel shafted woods.  Take all this with a grain of salt as I'm not an expert at anything.  See how the fitting session goes and let your expert know about your concern.  Hopefully someone will give you better advice than I have.

So many shafts, so little time....

Off the rack graphites will feel whippier than the same steel shafts on the next display.  They also tend to be A or R flex while the steel shafts will be R or S (please just avoid commenting that A/R/S are not a standard for now...).  And, if including hybrids, the graphite set is the one size fits all for the low speed/high handicapper.  However there is now so much overlap for fitted orders, there is great reason to get fitted.  They have new (exotic) 45 g driver shafts in X-stiff, and steel shafts in 90 g.  Lighter shafts tend to allow a little more speed but can still be stable.  So finding a shaft that feels good and is stable for your swing is not just graphite or steel. 

So easy to get advice on the 'net, but just see a PGA Pro and you'll be most happy!

Guys, Thanks for all of your replies, naturally I will be going to a pro and get fit, however, I just wanted to hear from someone who has had experience with graphite in their iron shaft and switched from steel and how long of an adjustment period was there. Somehow I can see myself switching from steel to graphite in a driver more so than an iron. The other issue is that if I don't like the graphite shaft, it would be a lot harder to go back to steel just because of the different head weights as I understand it.

I also doubt that if I went to a pro to get fitted that he would have the current line up of different shafts steel and graphite for the AP1's, so that's why I am reaching out to guys that have used graphite in their irons and their opinion.

Hey Walt

   You have gotten a lot of great info here, and will probely get a bunch more.  Let me throw in my two cents.  I am 58 yo and at one point I had been down to a 9 hcp.  The last few years i have been going up now a 15 hcp.  I have been playing the AP1s with stiff graphite and all I can say is the guys i play with want me to get rid of them! I was going to go from stiff steel to reg steel but went stiff graphite.  and I'm hitting the ball better now then when I was a 9.  Getting chilly here in CT now but I can't wait until next season --- I see my HCP taking a dive again.  Oh yea I think my buddies will be forking over some more $$ along the way.  

To help give you some insight, I recently went to the Palmer Cup(a tournament that is features local Pros v local AMs, in Latrobe, PA). Among those in the field was Nathan Smith, a prolific Western PA Amateur, and probably the best in the country that does not want to turn professional. Nathan is known by all who play pro and am events in Western PA. He has played in the Masters four times, and won the mid-Am four times, and also played along side Arnold Palmer in his last Masters. I was curious looking in his bag because as he had cally over-sized head  irons... in graphite, senior flex!! Nathan is in his mid to late 30's, and I couldn't believe that he had senior graphite shafts. The crazy thing about it was he could hit a 4-iron 240 yards. He also has excellent timing. He said that graphite shafts are are light, allowing him to create more club-head speed, which he had been lacking throughout most of his career. That combined with the over-sized heads added even more distance.(similar to the AP1's) He said that he wished he could have made the move earlier in his career. If one of the best Amateurs in the country has moved to graphite senior flex, I think anyone can. Hope this was helpful or at least a little interesting.

Cheers

-Luke

I'm 76, handicap 9, driver swing-speed around 85-90. I currently play 712 AP1s with Tour AD graphite shafts in A Flex. I previously used the Nippon 105 in R flex. The graphite shafts enabled me to increase my iron lengths by 10 yds a club, but only in calm conditions. The downside is that I get a very high ball-flight, especially in the 7-PW, that creates ballooning in the strong winds that we experience on our course alongside the North Sea. The move from the R steel to the A graphite was too extreme.

I've been doing a lot of research and am now considering a move to the 714 AP2s, because of their higher lofts in the long-irons and lower in the short. I'm looking for a shaft that will produce high ball flights in the 4-6 irons and lower ball-flights in the 7-PW.

Graphite is starting to make an impression on the Tour. A popular choice is the Aero Steelfibre, which is graphite wound with steel wire - I believe that Matt Kuchar is using them in his irons.

My choice will probably come down to either light-weight steel or graphite. My current favourites are:-

Nippon Pro 850 GH in R flex - weight 87g, torque 2.1

Project X graphite 4.5 - weight 91, torque 3

UST Mamiya 95 F3 - weight 90, torque 4.1

I'll also try the Kuro Kage in S flex - weight 65, torque 3.4 

Ideally, I'd like to have a demo 6-iron with each of the shafts to do extensive testing - I dream on!!

I am 61 and play the AP1 irons with steel shafts. Arthritis has crippled my hands and I am buying the same clubs with graphite. I played graphite irons for 6 previous years and loved them ..... My attempt at steel shafts did not work out. Bottom line, graphite are easier to hit and absord the mishits a lot better

Mike

I am 62 and will be purchasing new AP1's in the spring.  Arthritis has set in over the past couple of years so I may go with graphite.  

I believe your curiosity is something you need to flesh out. Graphite shafts will be lighter. As we age, swinging a lighter shaft will help with your control, and you will probably find your club head speed will slightly increase. Both are beneficial.

For what it's worth, I've been playing graphite shafted irons for about 3 seasons.  At 35 and a long hitter, I'm not the stereotypical player for graphite, but I absolutely love them!  I gained two full club lengths in distance without sacrificing any height or spin.  It totally changed my game.  I use to be as long or longer than anyone else I played with off the tee.  But when we got to our approach shots, I was using at least one club more than them.  Because of that, I had a lot more trouble get shots close to the hole and holding greens.  Now I'm mainly a tee shot and short iron to most every par 4 I play.  They're more expensive, but I doubt I will ever go back to steel shafts.

That is what I did.  

My steel irons were feeling very heavy and clunky when slightly mishit.  Hurting my shoulder and elbow.  Especially after practicing on a mat at the range.  Ouch.  Actually the TPI guys report lots of arm injuries from hitting off mats with cement underneath.

Bought a single 6 iron with graphite R to compare with my 6 iron with the Dynalite Gold XP.  The only way to tell is to take them out on the course, when it is not crowded.  The results at the driving range, trackman, or in a net are nice, but insufficient.   You've got to have confidence hitting a 7 iron off a downhill lie to an uphill green over a trap.  Can't do that on the range.

Results - the graphite are alot higher and softer.  Really easy to hit.