We took the best features from the electronic gradebooks we were familiar with and added some really interesting features. Hopefully, this will provide a platform for moving forward with the gradebook to make Moodle so far ahead of the other platforms that they'll just give up.

Our new gradebook installs as Gradebook as an alternative to the Grades feature.
The features we've put together:
1. Grades from all graded components are now stored in a centralized table (we've added code to quizzes, forums, assignments, and a couple of others. We're still working on workshop).
2. Grade catagories: You can add a catagory label to each grade
3. Grade weighting: You can choose to weight grades by catagory or by individual ite,
4. Locked scrolling: The coolest interface widget I've seen. Click a box and the first row and column lock depending on whether you are scrolling horizontally or vertically
5. Calculated columns: You can add a calculated column anywhere
6. Grading scales: You can add letter grades or other scales into the calculations
There are a couple of other niceties in there as well.
The disadvantage of our system is that it does require code changes to all of the other grade producing modules. But once it's done, it won't have to be done again. This method will make the gradebook much more scalable and useful. We'll reduce the number of database calls and that really ugly nesting that occurs now.
The table descriptions are only for postgres right now. I'd appreciate any help with new table desc for MySQL.
It is now available in cvs/contrib/gradebook2
I'll be adding the modifications for the other modules to that directory in the near future.