As you can see, Gradebook is a complex and extremely useful system, but it is not the most user-friendly one around. The ability to instantly access student grades can be very useful in helping students where they need it. Offering feedback via Gradebook can also add to learning by pointing out where the student excelled, went astray, or giving them additional feedback outside of the assignment itself.
In addition to you having access to their grades, students having constant access to their own grades can be beneficial as well. Students performing at a higher level may receive some beneficial backwash from the process. Students falling into a lower bracket may be inclined to approach the instructor or classmates to find out where they are going wrong.
The reporting features available in Gradebook, from grading simple assignments and forums to quizzes and tests, allow you to see the whole grade picture for each student in the class, in groups or as a whole in a complete, simple, or...