It depends on your height. I'm 6'2" and I bent it (inside the booth, not visible). It now sits much closer to the driver, 5th is closer than 3rd used to be, and more to the rear. When I open the center storage in the even numbered gears, it just clears the knob by a half inch or so.
I screwed the ball down as far as it goes.
I think shortening may not allow you to reach all gears over the armrest, but depends on how you sit, your arm length etc.....