Can you change a shaft from graphite to steel?

Answer 1

Yes. The only way to do it is to get the head removed, and just put a new shaft and grip onto it.

THIS IS COMPLETELY WRONG. The head will be the wrong weight for a graphite shaft.

Actually it's not completely wrong. It's just fine to do. You just need the shafts longer in graphite to compensate for shaft weight. It makes it so swing weight stays the same. I answered more completely on a similar question.

Now making the shafts longer will require a flatter lie angle. Most people aren't fit that closely to notice but the 1/2 inch would make it so you would need to flatten you lie angle by .25 to .5 degrees.

Personally I check and adjust both lie angle and loft on any new club I buy as well as yearly on my old irons.