“Lofting up” does close the face of the driver when you look down on it. The “lofting up” is done when you square up face at address to point it down your line. If you want an open face when you look down at the club, decrease the loft.
And there are no consequences for recording both scores. It is up to the Committee to decide which score will count for the side. Rules 23.2b(1) and (2).
Wasn't it a three hole play-off at The Player's last year? What was the play-off for this year?
Wrt to order of play in the play-off, it's usually the player who finished the last round first who plays first. Often comes down to who finished first on the last green in regular play.
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