I think you do "see" your grades/notes, in the feedback you get from teachers at each level - I'm new to UCB, but one of the things that I love is that for an improv school with a bajillion students, I have always felt that my teachers give focused, personalized feedback, and I'm sure that is partly due to a grading/notes system.
And yeah, my Robot Dick Cheney with a Boner scene is in the permanent record, which will probably ruin my chances of going to Harvard.