yes it matter a great deal as to driveshaft balance...you should paint or otherwise mark (don't even think of using tape) its position in reference to the front and rear halves at the slip joint. THey are balalnced as an assy....

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Proud owner of ....
1971 280SE W108
1979 300SD W116
1983 300D W123
1975 Ironhead Sportster chopper
1987 GMC 3/4 ton 4X4 Diesel
1989 Honda Civic (Heavily modified)
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Section 609 MVAC Certified
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"He who fights with monsters might take care lest he thereby become a monster. And if you gaze for long into an abyss, the abyss gazes also into you." - Friedrich Nietzsche