You are right. It mattered when I was applying for jobs as a fresh grad. But it no longer matters. On the other hand, I still remember lots of the ideas behind theorems though I haven't done any pure math in a long time. While most of the people I know can't remember what a vector space is anymore despite high grades. Universities need to cut down the number of exams and let kids have sometime to think and try things out. When you have competitive quizzes every two weeks whole life revolves around them. Professors used tell us that those frequent quizzes were there to help us spread the eggs in multiple baskets so that our grades didnt depend on just one exam. I think they missed the point that I wasn't there for their exam grades in the first place. Well.