a short shifter reduces the length of throw (exactly how it sounds) between gears on a manual trans. car.
It also makes the shifter shorter so its not as tall. Gives it a nicer look and will reduce your shift throw by up to 40-60%
It will be a little harder to shift however now that there isnt as much leverage. But it depends on what youre lookin for overall.
TWM IMHO makes a really good short shifter. Its a lil more expensive than some, but after driving vehicles with it installed - quality is top notch.