I like the idea of one to one grading by the instructor, I see it as invaluable critique.
However I do see the benefit for others to view and read the instructors notes.
Perhaps grading should be solely done by the instructor, but views and maybe comments only is an option.
I have seen previously on the more technical exercises, such as those in the animation bootcamp, graded and passed because the animation is cool, not because the animation is technically good.