Graded means that it has been previously sold and returned. Even if the goods are perfect they can't be resold as new. If they were reported as faulty they will be inspected, fixed, repacked and a standard manufacturers warranty issued with the graded unit. Plenty of people on these forums have bought graded goods - projectors and tvs - and have been more than satisfied with the quality and price. They won't be scratched or have bits missing; if they were you'd be entitled to return them.