Check the latest quickgrade developments in Moodle. Our live versions aren't currently supporting this, but I have used it locally and it is extremely efficient, especially for grading offline assignments like yours (grade all students from one page). As I mentioned, I have only stumbled across it in a local test of 1.5.3 but it may save you time.
Setting up all exams as offline assignments is unavoidable as far as i can see but once done, you can reuse the format on multiple courses and in following years/terms etc.
Gradebook
Step 1
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