In my high school days, I took honors classes weighted by a full point: an honors-class B equalled a non-honors-A. The increased difficulty in the classes justified the weight. However, with transcripts not directly reflecting the "weight," those Bs and one C haunted me long after I graduated from high school.
Another note of interest: students who took just one honors course throughout high school were "honors students" on equal footing with those who took full schedules of honors courses. I know the Bell Curve is out of style, but the merits of equal distribution still weigh heavily on my attitude of scholatics.
Not everyone can be an A-B student. And when they are, the top 10% are definitely not being challenged like they should. Make school 20% more difficult, let everyone's grades shift down 10%, and work from there.