I wouldn't go as far as to let someone in that I knew graduated with a 1.5, but at the same time there a tons of graduate chapters out there that don't even ask a prospective's GPA. Actually, most graduate prospectives that I have encountered had enough attributes to where their GPA wasn't even a concern(community service, a history of extra-curricular activities, etc.). I would rather take a person that graduated with a 2.3 that is involved in organizations or activities than someone that graduated with a 3.2 that did nothing but sit in their room in college and now does nothing but sit in their house. It the end it is about the person as a whole and what they can bring to the table. Grades are just part of the equation, not the total sum. Ideally, a worthy graduate candidate would at least be in their career or in a graduate program before they would even be considered. A kid that graduated with a 1.5 that's working in the mall wouldn't be a worthy graduate candidate
By the way, I graduated with over a 2.5 in case anyone is wondering.