Interesting topic.
When I was growing up, we didn't have honor rolls per se, but we did have honors classes, and everyone knew who'd be on the honor roll if we'd had one. We also weren't given a class rank; the valedictorian and salutatorian were told they were #1 and #2 respectively, and everyone else got a decile ranking.
If I brought home anything other than straight A's, it was "What is this B doing here?" and if I brought home anything lower than a B, I could forget about TV for the quarter! And you know what - if I am blessed with children, they get the same treatment.
What has this society come to if we can't recognize high achievers?