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When you move the flash up using any bracket, you risk loosing coverage of your subject, but it will depend on how far your subject is away from the flash. For distant subjects, your coverage will basically be normal, but for very close subjects, you may loose a lot of coverage. Unlike the older Really Right Stuff flash brackets, the WPF-QR does not have an adjustable feature that allows you to point the whole flash downward, so you are kind of stuck with the straight ahead pointing of the flash.
For close subjects, you can try setting the beam angle on the flash to a wider setting than the lens would automatically select. Because the subject is close, the loss of flash intensity from the extra wide beam will likely not be an issue. Adding some sort of diffuser to your flash for close shots could also work to increase the flash coverage.
For a lot of flash work, I add one of the models of the Demb Flip-It, which provides an adjustable reflective surface that gives results similar to a small diffuser, plus it is adjustable so that you could bring diffused coverage in for close subjects, and at the same time get the benifits of a larger light source size.