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Work flow modification and the effect on reporting

Hello,
We are using the formal process template. Using the defect work item, you can go from New->Resolve, then Resolve->Close. I have a customer who wants to go from New->Close.
That's easy to do, but does it have any effect on reporting? If I am looking at how long it takes to work items, will I be missing out on this data? Is there some type of "Resolve..." report that this will never appear on?
thanks