I recently learned about
Center of Percussion.
It's the impact point where there will be no shock transmitted to the hands. This seems to be considered the sweet spot in baseball batting. And it is most certainly the sweet spot for a hammer.
Not that if impact happens below the COP, a forward force would be generated at the hinge pin. I guess that corresponds with the harsh feel of flipping and topping at the same time.
Then you have the
Center of Oscillation. I often call this the Moment Of Inertia Center, but that term seems to not be used in English. Anyway, this is the inertia center as seen from the hinge. When the stick becomes a pendulum around the hinge, there will be as much velocity energy below this center as above it.
Radius of gyration is the distance from the hinge to the Center of Oscillation so these two terms are often interchanged. For a clubhead with a given mass, the radius of gyration will correlate with how hard it is to swing the club. more radius of gyration means more inertia.
Until recently I thought this center had the same property as the center of percussion, but it doesn't. It sits higher on the stick. It will always be somewhere between the COG and the COP in the figure above.
Center of Gravity is the last term in the club.
Here's a patent dealing with how to get the COP in the center of the club head:
http://www.ptodirect.com/Patents/5629475
This indicates that the COP is the true sweet spot. But perhaps there's more to it than just where the COP is.