I've graphite in my set of RAC LT irons. Stiff and light.
Miles away from most people perception of 'graphite shafts'.
Arguably they should always be a lot better as you can make them to any spec you need much more easily than steel - but, and there's always a but, to do so is hugely expensive! There are also arguments regarding the ability to maintain co-ordinated consistent matched shafts - which is where steel comes into it's own.
Then of course there's hybrid (materials not clubs)
