Yes and no. When the axle travels vertically (like hitting a bump on the road) it doesn't matter where the shock is located.
For leaning (body roll) or articulation the shock is "less effective" only because of the extra leverage placed upon it, but not really any less than stock (or not a noticeable amount)
You loose a decent amount with the shocks being angle, just as you do by in boarding them.
The benefits (for me) out way the losses. Running the shock in boarded allows me to use a much shorter shock, and still have all the wheel travel that I could ever need. The 8" shocks I have now are 15" collapsed and 23" extended.
To run a shock further out, that gave enough wheel travel I would have had to put them though the floor.
Also, the shocks look more in boarded than that are. a 14 bolts center section is huge, the upper shock mounts are in the stock location and the shocks are about 5 degrees to the outside on the axle.
And as far as the grease, you can't imagine how much noise leaf springs make with a spool in the rear.
