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We had the plus/minus system in Minnesota and I didn't mind it. I was pleasantly surprised with pluses more than I was negatively surprised with minuses. I think that most of the professors tended to use the pluses to reward extra work more than they used the minuses to punish slackers.
I do think, however, that there is often very little difference between an A- and a B+ and that it sucks that such a little difference in effort can make such a big difference in your GPA.
Here at Wisconsin we have the A, AB, B, BC, C grading system and I think that's a nice compromise -- it offers an option for borderline cases without so much possibility of lowering your GPA.
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