These are my experiences from playing with Predator Z and Z2 shafts, the lowest deflecting shafts on the market for many years. Some of this is also true for 314 shafts:
Pros:
1. When playing on responsive equipment, you'll feel like a f-ing surgeon! The control one can achieve over the amount of spin at slow to medium speeds is phenomenal, and deflection is mostly a non-issue. Of course this predicates that the rails actually grab the ball and give a controlled rebound.
2. Small tip will let you see more of the cueball, does not obstruct view. This is more important than it may seem, because it will aid greatly in shotmaking at distance, at least for someone used to playing snooker.
Cons:
1. Whenever you start to really push the limits of the ball, meaning maximum side/top or bottom spin, the shaft will feel weak and inconsistent.
2. Pushing the speed up to max, when you have to punch the ball off a rail, or get too shallow of an angle on a straightpool breakshot, again the shaft will buckle and feel very weak.
3. When you have to play a "no-rail", punch game, like you would on tables with rails that are not acting right, or on very slow cloth, you will realize that the feel of the shaft is not like that of solid maple. The feedback is "dull" and speed control not as consistent as with a solid shaft. It seems like you get short or long alternately, but it's very hard to dial in perfectly on these kinds of shots.
These are my observations and opinions, yours may differ.