Yes it will. But if you do not have a spring tester, then free length is all you have to check for spring weakening. Hey, I ain't gonna force you to believe anything.... but it is a parameter that has its uses.
The spring ends distort take up some extra compression distance when you first start to compress the spring; that makes the spring rate deviate from linear when you get close to free length. So taking the spring rate and the difference between free length and installed height won't compute out like when the spring is working in its linear range.