You're Correct!

Any movement of the golf swing which works around the impact zone is important to the outcome of the shot and the release of the club is no different. The amount a player should release or needs to release is relative to the swing path and the grip.

If a player has a really strong grip and releases correctly, the ball will hook left so this player needs to control the amount of release through impact which can lead to the chicken winged left elbow through impact.

If a player has a grip which is too weak, they will need to release the club more than normal otherwise the face will remain open at impact causing it to start right.

A player with an in to out swing path should have a slightly stronger than neutral grip as this will encourage the draw shape as the hands release to close the club face to the path but not the target line. An ever changing amount of release through impact can cause poor directional shots and lead to high scores.

Whenever a player is faced with any adversity such as a water hazard, bunker, or tight pin position, it is the release which reacts to this as it subconsciously aims to keep the ball from a bad position.

The amount the hands release through impact is also dependent on how much they have hinged or maintained their hinge during the swing. If a player doesnt hinge a lot or casts the club on the down swing, the wrists have less work to do around impact which may seem good but can actually cause up to 30 yards of lost distance in the iron shots.

The positive impact the release has on the golf swing is to maintain the hinge during the swing so that as the club approaches the ball, the release will speed the club head for more distance and also keep the club square to the target line during impact.

The release also helps keeps the hands ahead of the ball at impact for a downward blow, resulting in a penetrating ball flight rather than allowing the club to get ahead of the hands thus causing thin and overly high ball flights.

A proper release can cause the ball to go left only if the grip is too strong because the grip will then turn the face to closed to the target and/or swing path starting left and possibly curving further left.

The release of the club through impact creates a lot of club head speed for added distance, but this isnt the only aspect of the swing to produce more speed and power. The release needs to work in conjunction with the hips and weight transference for a strong impact position and penetrating ball flight.

A proper release will have more bearing on the shots direction and distance as opposed to lower flights. With other elements of the swing working well, it can create a lower flight.