It was the same, when our national licenses were swapped for JAA licenses ten years ago. But it didn't hurt too badly to fly with a CPL that had a small "ATPL theory credit" remark on it. Honestly, it didn't make the slightest difference.
And regarding the academic grades: This may be different in different countries, but here in Germany some titles are indeed linked to the job. Most professors lose their title when they retire!