This will be unpleasant for those students who have difficulty with the stress of examinations, but the alternative is that honest students will be even more seriously disadvantaged than they are now.
Ironically, the future will mirror the past, with grades reflecting a scary exam at the end of the year, or at the end of a degree program.
It seems that everybody saw this coming, but I am one of those who has to admit being surprised by how quickly it hit us.