Depends on how much loft you want.  I purchased a 9.5 and did the exact same thing and I really like mine at that loft and play it .5 open and can actually maximize the loft to 11.0*.   By adjusting the 10.5* you can always adjust down to 9.75, or up 11.25 or 12.0*.  The differences are actually .75....one down and two up......the beauty of the Titleist driver's, are the choices....good luck with your decision.....take yours to 11.0* and see how that works for a while, that would be an A4 setting for a right handed player at neutral........   

It only increases or decreases loft.  I am assuming that you do not have the adjustment chart.  Using D4 for a 9.5 head, would increase it to an 11.0* then moving it to a C4 (11.0*) would cause it to fade and C3 would have a slight draw and D3 more draw.   If you have a wrench and this chart , you can tinker with your driver and set your club up to meet your standards.   I hope that this helps.  

I checked with a friend of mine who is a Titleist Certified Fitter and he stated that by increasing loft is does not necessarily cause a draw.  It all depends on the setting.  If you maintain the Standard lie setting there will not be a draw D1,A1,D4,A4.  He is my go-to guy and does all my fittings.  

Thanks - this seems to contradict what was said before. 

I guess I should go to a clubfitter or at least get on a launch monitor. 

Chuck Z is exactly right, If you increase the loft it will not affect the draw/fade bias of the club, you must change the lie angle and then it will open or close the face of the club at set up. I have a 913 D2 10.5* set at D3 setting and love it, I'm 59 here and get 250-270 down the fairway when hit in the center of the face. Have the Barsarra 50 regular flex shaft. 

Chuck Z is exactly right, If you increase the loft it will not affect the draw/fade bias of the club, you must change the lie angle and then it will open or close the face of the club at set up. I have a 913 D2 10.5* set at D3 setting and love it, I'm 59 here and get 250-270 down the fairway when hit in the center of the face. Have the Barsarra 50 regular flex shaft. 

[/quote]  Maybe one of these days I will consider a regular shaft.  Think it might help my distance?  I seem to be all over the place hitting regular shafts......

Hey Chuck, I started out with the blue board blue shaft 62 regular flex, it was ok for me but the launch was still a little low for me, my swing speed is about mid to uppers 80's, I have had back sugery years ago for a ruptured disc in the L1 and L2 area of the spine. However with that being said, I don't know your swing speed but you may want to check into a regular flex 62 gram shaft, just to play around with it and see what happens. I could really go after it with the heaver shaft and get distance but I paid for it the next day, I found with the lighter shaft I just swing with a smooth swing and time the release right I get a great drive and ball flight is just right for me. Love my Titleist equipment!

Thank you all for your replies. The information that the face is closed is very useful.

Hi William,  If you are RH and you move the setting directly up or down on the chart from A1, you are changing loft and not lie.  If you move it left  on the chart, the lie will be more upright (draw) and if you move it right on the chart, you will flatten the lie (fade). 

On face angle - the standard face angle is .5 open and that face angle is maintained for the entire row of standard loft (A2, B2, A1, B1).  If you increase the loft to D4, the effective face angle will be .5 closed.  If you decrease the loft to D1, the effective face angle is D1.  We say effective because it only comes into play when you sole the club on the ground.  Once you swing and square the face at impact, the only change that you have made (if moved to A4, D4 or D1) is to the loft.   

Thank you Cathi. Extremely informative. 

One difference to consider is the golf ball spin coming off the driver.

A ball from a 9.5 head spins less than one from a 10.5 which could be good or bad depending on your personal "launch" conditions.  It worked out better for me in terms of launch and spin and therefore distance by using a 9.5 head changing the loft to 10.25 vs. using a 10.5 at the stated loft.  

If you have access to a launch monitor it would help to hit a few balls with each to see what results you get.