Well I can give you some advice as I'm about to start mine in August.
You should probably know a few things. The industry today is pretty crap so your average employer is looking at the best deal he can snag.
From a logical standpoint - yes passing is more than enough, let's be real if I have to know about all those things in HPL and air law to make me do my everyday job I'd love to see an explanation why.
However, companies are using grades today as a filter. A few people on this forum told me that they'll be interested to see if you failed and what your average was. Let's be realistic if you have 1000 people applying to an airline they'll want to see who has the highest grades, ultimately who will work for the least and be a slave for the longest.
At the end of the day, studying an extra hour or two won't kill you. Some companies care and some don't but don't be that guy hitting himself on the head when you get denied a job because you didn't study.