lie angle on the driver is the least important of all the clubs.
lie angle becomes increasingly important as the loft of the club increases, or in other words misdirection due to lie angle decreases with loft.
the driver also has the greatest amount of toe droop ( correct me if I'm wrong but believe on average the lie flattens 2* due to toe droop) but unless the toe of the head id striking the ground then this again produces a negligible effect on direction.
As with everything, clubs are built to accommodate average sized individuals, what ever that may be but lets say it's 5 foot 9/10, so a shorter individual, say 5 foot 5 might benefit from a head with a different lie or a shorter length club.
so as long as you are not excessively tall then cutting an inch is not likely to do any harm. In fact it might improve matters as almost everybody hits a shorter club better than a longer one.
as you know swing weight will be 6 points lower with a 1 inch shorter club and flex will be marginally stiffer> if you find this is an issue simple add weight back to the head to return it to what it was.