Pyratone shafted Walter Hagen The Iron Man niblick in overall decent shape.  There is some crazing/cracking in the pyratone and the grip has a flat spot.  Without removing the grip it's hard to say if the shaft beneath is damaged or if it is just the grip.  But the club is likely still playable or would make a nice display piece.  Very heavy head, great for bunkers or deep grass, and just a cool, unique vintage club.