This is off tangent, but I can't resist....
Having said that I've always thought that because (most of us) don't do competition, gradings are the one place we have to see how our technique fares with the nerves/adrenalin pumping.
I think it was a nice way of doing it (course work over exams as it were) but i think it's probably important to see how people deal with grading pressure by the time they are nearing dan grades.
It seems that there is the implication that a grading exam is a stressful situation. It may not be. From personal experience, it has never been for me.
Why would it be, when you think about it --- particularly for kyu grades. The person being tested knows what is expected of them (the requirements), probably knows the attack uke will give and what technique they (the person being tested) will respond with, most likely knows who uke will be (the people they train with daily, or have seen at seminars), and will not be getting a completely uncooperative uke.