In February and March 1979, students, faculty, and staff at South Oklahoma City Junior College were surveyed to determine their feelings toward the change from a one-mark grading system (M for mastery of the subject) to a three-mark system (MH for mastery with honors, M for mastery, and CR for credit). Of the student sample, 53.8% (N=574) responded. Findings included the following: 58.9% of the students rated the revised system as very good to good, while 9.2% rated it as very poor; 60.8% felt it would help in transferring; 50% felt it would have no effect on getting a job; of those who enrolled for the first time in fall 1978 or spring 1979, 83.7% indicated that the grading system had no effect on their college choice; and comments about transfer of credit were basically positive. In response to the survey of faculty and staff, 43.3% responded. Adjunct faculty, classified staff, and nonteaching personnel rated the three-level system more highly than the single-grade system, while full-time faculty preferred the single-grade system. Considering the effect of the revised system on recruitment, retention, transferability, and getting a job, ratings were most positive on the effect on transferability. The survey also investigated the fact that all courses did not have a CR option and methods of performance level selection. Student and staff comments are included in the study reports. (AYC)