I have done this and I can tell you exactly what will happen. The head will open up just fine, but the blades will fold back too far and the back of the blades will cut into the aluminum insert and probably into your arrow shaft as well. By folding back too far, the cutting diameter will be a little smaller than it should be. Ruined arrow, small cutting diameter.

If you don' t care about scrapping out an arrow and getting less than full cut, then go ahead and use ' em like that.

The problem with GoldTip and Steelheads is two fold. First, the counterbores in GoldTips inserts are deeper than most, but still within AMO specs. Their inserts will work with any head that is made to industry standard. The BIG problem is that the Steelhead' s threaded shanks are cut a full 1/8" shorter than AMO specs. They are counting on the insert makers to keep the counterbore depths either short or in the middle of their tolerance range so they can hang a thread or two with the steel washer in place.