I would have to rate HoW a B- / C+. ToO is excellent, PoE is less than good, especially the weapons, the rewards / effort trade-off of PoE Lvl 35 and lack of matchmaking for at least levels 32 and 34.
Edit: A historical note on grading:
Some schools do hand out E letter grades instead of an F, but they are in the minority. A majority of schools give grades of A, B, C, D, or F.
Rather than a failure on the part of academic institutions to know the alphabet, the simple answer is that “F” stands for “fail.” The other four grades are more or less considered “passing” (though in some districts a D is also a failing grade), which is why they go in alphabetical order. The F is considered separate as it denotes a failing grade, and does not need to go in alphabetical order. It just so happens that “fail” starts with a letter that skips one letter alphabetically on the scale.
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Edited by Nate: 7/26/2015 9:12:20 PMD Here's why. POE is pointless after the first few weeks (after ciphers are complete). Etheric light is the only thing needed to 365 armour/weapons. Brb you can get 9 etheric light per week from trials, then iron banner drops... Brb another 6 etheric light. Brb etheric light from the nightfall, etheric light from 34 PoE. Oh look defeating Skolas is now pointless. Because everything is now 365. When the dark below dropped, grinding crota was real, hitting level 32 took months in some cases, waiting on that weekly RESET, to complete the raid, trying to acquire armour. The raid was viable for a long time. In steps house of wolves. BRB LIGHT LEVEL CAP REACHED ON ALL CHARACTERS IN 4 DAYS. Etheric light everywhere, no need to defeat skolas any more. THE TOP TEIR BOSS IS NOW NULL AND VOID! All light levels reached. Why even play? Please don't talk about the adept versions of poe weapons as a save, because let's face it, the weapons acquired from PoE are complete garbage. The only thing saving HoW from an F is ToO. Game over. Ps. Your grading system sucks.