Originally Posted by
DaveSSS
It shouldn't hurt a thing, but it's best to make the final cut leaving 2-3mm of steerer above the stem, so a 5mm spacer is always on top. It helps reduce the chance of cracking the top of the steering tube from overtightening the stem.
The instruction manual for my Easton EC 90 fork specifies this. Personally, I think it looks like hell but I'll make the aesthetic sacrifice in the name of safety.