I finally decided to see what's at the top of the hill. It looks impossibly steep to climb and it is from most directions. However if you park on the western side just above Hammiton farm only the last 20 yards or so are steep.
The views from the hill are panoramic. I could see at least four hillforts from the top, namely Eggardon to the north east, Chilcombe to the east, Abbotsbury castle to the south east and Pilsdon Pen to the north west.
Also to the south west is Golden Cap, Colmer's Hill and Hardown Hill are to the west and I think I could see both Lambert's Castle and Coneys Castle to the north west as well.
I'm not sure this is a hillfort in the sense of there being any defensive banks or ditches, of which I could see no evidence. Having said that I'm not sure these would be neccesary as this would be an ideal refuge without any obvious banks etc. It is easy to see any approach to the hill from any direction.
There are some curious looking banks and ditches below the main hill which could wel have been the site of a settlement.
Grinsell thought there was a low barrow on the hill, the only place I could see that could be a barrow is the site of an O.S. trig point. It is indistinct and would have been disturbed by the building of the trig point anyway. I suspect also that the site was used during WW2 as an observation post, there was some brick work up there and what looked like a small chimney stack in the field below the hill.
An Inventory of the Historical Monuments in Dorset, Volume One
by the Royal Commission on Historical Monuments in 1952:
Earthwork on Shipton Hill (565 ft. above O.D.), ¾ m. N.E. of the church, forms an enclosure of about ¾ acre. The hill-top has been artificially steepened on the N. and S. sides and the two ends form natural ramped causeways leading up to the summit. At the base of the hill on both the N. and S. sides is a ditch with outer rampart of no great strength, and at the present time, for part of their length, both have almost disappeared. Both the ditch and rampart stop short of the E. and W. ends of the hill.
Between the base of the mound and the outer ditch at the eastern half of the S. side is a berm, but it seems probable that it is merely a natural outcrop of rock. The two pathways leading up the slope on the N. and S. are probably modern. On the top of the enclosure near the middle is a cross hedge-bank which appears to have been formed along the eastern scarp of a ditch to an earlier bank, traces of which can be seen immediately E. of the existing hedge-bank. Near the middle of the enclosure is a circular mound, of about 28 ft. diameter and 14in. high.
Beyond the rampart on the N. side, and to a much lesser degree on the S. also, are a series of rough terraces. They would seem to be a natural formation though their surfaces in one or two places show signs of disturbance. Warne (see above) mentions the disturbed nature of the N. E. part of the field immediately to the N.E of this camp and suggests the possibility of its being a Celtic village. This disturbance is still visible but is quite indeterminate.