I was wondering the same thing. When I begun mt masters one of my tutors told me that it does'nt really matter what you get, but when I was filling out an application form the other day they asked for the grade (?)
I think its only important if you know that its relevant for the next step that you're headed towards. Is it very competitive, is there a cut off point, is the institution or work place you're looking at really mindful of that stuff?
To be honest with you, I think most of these places look at a lot more than a person just having a masters and the grade attached- it's the over package that you have to offer, so I would'nt put too much emphasis on this alone