I have never believed you can sum up an entire season just on the NCAA tournament. Since everyone is giving grades, the grade should not just be based on the final. There are many things to consider...
1) Maui Tournament: B+
2) Non-Conference Schedule: assuming we win out, A- (Wisconsin win, but Duke loss)
3) Big East Regular Season: ?
4) Big East Tournament: ?
5) Post Season: ?
You may be able to weight the Post Season at 50-60% but it shouldn't be the whole grade.
I like this perspective a lot. It factors in how important things are to you and the team's performance. It seems fun to weigh it out. Here's my go with it...
1) Maui Invitational (5%)
B. Made the final, played Duke close. Not making the final would have been a big disappointment though.
2) Non-Conference Schedule (10%)
A. (Assuming wins vs. Savannah State and FL-Gulf Coast in March) Not very exciting outside of Duke and Wisconsin. But winning in the hated rival's house for the first time in a few years and making UWM quit were nice. It could have been an A+ had we beaten Duke or played a couple tougher mid-majors or major conference teams to make the resume a little nicer.
3) Big East Season (25%)
Projected grades:
0-7 wins: F
8-9 wins: D
10-11 wins: C
12-13 wins: B
14+ wins: A
Of course it all depends on what games are won and lost and how the games are played.
4) Big East Tournament (10%)
Projected grades:
Missing the tournament: F
First-round exit: D
First-round win/bye, second-round exit: C
Second-round win, third-round exit: B
Third round win, championship game loss: A
Championship win: A+
Again, it depends on matchups, as well as expectations going into the tournament after the regular season ends.
5) Postseason (50%)
Projected grades:
No postseason: F-
NIT or CBI invite: F
NIT or CBI invite and title: D-
NCAA berth, first-round exit: D
NCAA berth, round of 32 exit: C
NCAA berth, Sweet 16 exit: B
NCAA berth, Elite 8 exit: A
NCAA berth, Final Four or Championship Game exit: A+
Winning it all: Automatic 100% for season.
