I think this topic is covered fairly well here:
Here are some relevant quotes from the resource page:
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Some people think that because a soft tip stays in contact with the CB slightly longer (see
contact time), a soft tip can apply more english. However, see Bob Jewett's comments below. Also, the contact time is still extremely small with both a soft and hard tip: close to a thousandth of a second (0.001 sec). Assuming the CB speed is the same in all comparisons: even though the peak force will be different (more with the shorter contact time), the amount of momentum (linear and angular) transferred to the CB will still be the same (because the sum of force over contact time is the same in both cases). The CB doesn't move much (translation or spin) during the extremely small contact time, so the only significant factor is the tip contact point at impact.
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from Bob Jewett:
One issue is which harness of tip will allow the farther-from-center hit. Some believe that a soft tip takes chalk better so it can hit the ball farther from center.
There is a counter theory, and that is because a softer tip will have a longer contact time than a hard tip. During contact, the tip rides around the side of the ball some, so the final eccentricity as the tip leaves the ball is larger than when the tip first hits the ball. A softer tip, with the longer contact time will be farther off center at the end than a harder tip with the same starting offset. If both tips can only hold to a certain point of offset, and you start your shot so the miscue point is barely reached at the end of contact, the average offset will be larger for the harder tip. This means that the harder tip can create more spin for a given ball speed.
Which dominates? Holding chalk better or starting farther off-center? I don't know of any experiment that has tested this.
Regards,
Dave