Interesting! Maybe the subjectivity increases as you go higher through the education system. I have more faith, so as to speak, in my UG result than in my Masters one (although they were similar overall, there was so much variation in my Master module marks - which I think reflected variability in markers rather than topic/ability)... I have yet to undergo viva but I already know that it can swing either way and although my initial joy/despondency will depend on the outcome, I already know that it won't necessarily reflect the quality of my work (though it may)...

Is this what academia does to you?