I think grades are very important in school. The purpose of grades and testing is to assess you on a certain topic. Then when the teacher grades it, you will get a letter grade to show where you stand and how much understanding you show towards the current topic. This current system is based off a 100 point scale and it's usually 90 - 100 is an A. 80-89 is a B, and so on. Or somewhere close to that.I think the current system quite accurately shows students learning and understanding. It gives an exact percentage which categorizes you into a letter grade. This letter grade shows how good you're doing or exactly how much you need to improve.
Standards-based grading is very different. In this it gives the student a very general idea of where they are. This helps teachers reduce the amount of paperwork they have to do according to this site. Which allows them to have more time to think out the next days lesson plan or anything else equally important. However, it does not give the student an exact standing. In short, the grading is very broad.
I favor the traditional grading system more because it will tell me exactly how much I need to improve. Where as, the standards will only tell me if i'm proficient, not proficient, or advanced proficient. Now most people would say what's wrong with only knowing that. However, as a gifted student, I want to know exactly how much I know where I need improvement. An advanced proficient could be anywhere from an 80-100 or maybe 85- 100. Most people are okay with B's but not everyone. I myself think of getting B's as bad. So the standards won't be as explanatory. The traditional system is much better than the standard system.