Depends on the weight of the 3 wood head compared to the weight of the HyWay head. Also depends on how much parallel tip length you have remaining on the shaft. If the Hyway is heavier than the 3 wood, and my bet it is, and you have enough shaft tip that you can trim, you could trim a little more to get the shaft to play to the same flex as it does with the #3 wood. That being said, not trimming any form the tip might make it pay a little softer or feel a little softer, but it could still play very well. You just need to compare the head weights and the shaft tip length and then decide.
Britt Lindsey
The 3 wood I have now is the Maltby KE4 STF not sure of the weight I bought all ready assembled.