A 5b means much more to me that the consultation time I have at school, where they tell me they are 'meeting/exceeding' expectations but I don't have a clue of what this means, nor can I really check what it may mean. My latest 'consultation' with school (and many others) focused on some obscure info about: needs to reflect more on her work (math, dc1) or needs more encouragement with handwriting (dc2).
I know my children are doing much better than I expected from that information because at some point (end of year2) they gave me a number. I was totally surprised. I was surprised again by the vagueness of the feedback provided in the report/consultation compared with a much clearer understanding from the numbers written down in reports I got in Y3 and Y4.
Because my kids are doing reasonably well, I don't care if someone gives me a 'mark' or another clear picture on how my children are doing. Not sure I would be that happy if they were struggling. Still I would not dismiss the value of a number either. It is not true that it is replaced (at least in my school) by a better feedback.
I chose the school precisely because they have a relaxed atmosphere, close to no homework and a happy environment. But I fail to be impressed by the lack of transparency on the academic side.
By the way, I know University lecturers (sometimes driven by obsession over NSS results) who use the following strategy to ensure that every student gets 'feedback'. They provide detailed comment on the work of students without giving a mark. This guarantees students will come to see them for a face to face meeting, because they have not got the most important feedback they need: the number.
I would be able to guess the mark of most students reading the comments of any summative or formative assessment, but I don't know any who would be happy just with this.