A cut of 1/4" is only a 1.5 swingweight point loss - hardly noticeable.   I have my AP1s 1/2" shorter than stock and 1* upright and I use an Excel RF midsize grip.  My swingweight comes out to D1 this way.  I also have my 50* Vokey shortened to 35.25" and it weighs in just slightly over D3 with the standard rubber grip.

Most people can't notice a 3 swingweight point difference and even golf pros barely notice 2 points. 

In fact, my 910F 19* is 41" and I use a Winn Lite Dri Tac grip to restore the swingweight.  I play it 1.5* upright

If you were to order a set a 1/4" short, they would butt cut it so there is no problem butt cutting it 1/4" or even 1/2".  That would take the swingweight down about 1.5 swingweights, but adding the multicompound will add one swingweight back because it is lighter than our standard grip.  So even though you have made the overall weight lighter, the swingweight will probably not change perceptibly.

The history on club lengths for my irons has been a 5 iron length of 37.5" and a 9/PW length of 35.5".  I play 1* upright on Titleists. 

Standard length for irons: 38" on the 5 iron, 36" on the 9 iron and 35.75" on the PW.

Just wondering did you cut your shafts.  If so how did they play.  Considering cutting mine 1/4 inch.  

why cut, just hold 1/4 inch down.

The ball hits a little cleaner for me.

Also, don't forget that for every 1/2" you shorten the club, the effective lie angle will change by roughly -1*. So, if you're shortening the club 1/4", you're only looking at -1/2*. Most people don't care when it comes to fine details. I make sure that all of my clubs are dialed in to a "t". I've worked on a PGA pros clubs before. He knew something was off, but couldn't quite figure it out. Long story short, he only needed his lie angle adjusted -1/8". After adjustment, he hit some balls and said "Perfect!". 

Anyways, let us know how everything goes.