Since some of the top schools in the country are on a P/F system, and they routinely send a majority of their graduating classes on to post doctoral specialty programs, I do not see any disadvantage to the P/F system. The notion that it diminishes competition among the type A, OCD, gunners in the class is not really true. Although the final transcript grade will be H/P/F, during the course of the semester, the regular examinations are generally graded on a numeric system. Thus, the competition remains fierce. The whole point of the P/F system is then tainted.