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Good post Alan. Especially regarding the educational angle.
It is true that you cannot teach experience, you can only gain it.
However having the option (not compulsion) for both Gradings and its educational benefits, as well as Competition and the experience gained from it can only be a good thing.
Well structured Gradings ( and I agree some are not - which is where the problem lies )teach about weight gain/loss, weight training, jogging and running skills, sports injuries and remedies, First Aid, Refereeing Skills, fighter preparation ( massage / hand wrapping / pad training etc ), correct cornering procedure ( between rounds ), Knowledge of general competition rules and scoring, ( the list goes on.. History, Culture etc..)
Then when a graded student enters the competition areana as either a fighter or maybe a cornering assistant (apprentice instructor) they should at least have an understanding of the very serious sporting aspect of their martial art. An understanding due to taking part in a decent, well developed and structured Grading.
Almost every experienced trainer will at some point seen a lesser experienced coach preparing their fighter in, well not quite the usual way, and thought,"what are they doing!". Some coaches cannot even wrap hands correctly, and are putting fighters into the ring!
It is not fair to criticize all Gradings outright as some people do. A Structured Grading I feel have an important place with regards to the Sport.