I'm going to assume the bottom end of the rod is fixed, so the rod rotates around it. I think this is what you have in mind - shout if it isn't. So at some point during its fall the rod looks like:

The mass of the rod is $m$ and the mass oif the weight on the end is $M$, and I've drawn in the forces due to gravity.
To write down the equation of motion for the rod we use the rotational analogue to Newton's second law:
$$ T = I\frac{d^2\theta}{dt^2} $$
where $T$ is the torque and $I$ is the moment of inertia, and rearranging this gives:
$$ \frac{d^2\theta}{dt^2} =\frac{T}{I} \tag{1} $$
If the length of the rod is $\ell$, then the torque is:
$$\begin{align}
T &= mg\frac{\ell}{2}\cos\theta + Mg\ell\cos\theta \\
&= (\frac{m}{2} + M)g\ell\cos\theta
\end{align}$$
The moment of inertia of the rod is:
$$ I_{rod} = \frac{m\ell^2}{3} $$
and assuming our weight can be approximated as a point mass its moment of inertia is:
$$ I_{weight} = M\ell^2 $$
and the total moment of inertia is just the sum of these two:
$$ I = \frac{m\ell^2}{3} + M\ell^2 $$
And to get our equation of motion we just substitute our expressions for $T$ and $I$ into equation (1) to get:
$$ \frac{d^2\theta}{dt^2} = -\frac{(\frac{m}{2} + M)g\ell\cos\theta}{\frac{m\ell^2}{3} + M\ell^2} $$
There's a minus sign because as I've drawn the diagram the angle $\theta$ decreases with time so the angular acceleration is negative. With some rearranging we get:
$$ \frac{d^2\theta}{dt^2} = -\left(\frac{m + 2M}{m + 3M}\right) \frac{3g\cos\theta}{2\ell} \tag{2} $$
Now actually solving this equation of motion would be hard, but we don't need to solve it to answer your question. The left hand side of equation (2) is the angular acceleration, and if we increase the magnitude of the angular acceleration the rod falls faster while if we decrease it the rod falls slower. So your question simplifies to:
If we increase the mass M does the magnitude of the angular acceleration increase or decrease?
On the right hand side everything outside the brackets is independent of $M$, so we just need to answer whether the term in the brackets increases or decreases if we change $M$.
This is easy to answer because we have a term $2M$ on the top of the fraction and a term $3M$ on the bottom, and obviously $3M \gt 2M$. So if we increase $M$ the fraction in the brackets decreases, and therefore the magnitude of the angular acceleration decreases.
So the answer is that attaching a mass to the top of the rod does indeed make it fall more slowly.