steve i wouldnt saw graphics is entirely maths. you dont have to be a maths wizard to do graphics. im not :)
As for handing out 1.1’s thats a u.c.c. thing (it was before i was there, it was when i left last sept), every course is like that. I do agree maths is a handy thing to have but the subjects the industry is hiring up for at the moment is physicists and people who can do network programming. Both areas being the critical part of next-gen games. AI to a lesser extent but will be more crucial once the first\second wave of games are out, IMHO.
Mostly though specialising in one area at college doesnt really matter in the games industry when you first start because typically you wont be using them at first. You’ll be hired because your smart (and fair enough you didnt those subjects) and they will eventually grow you into a role which uses them, when you’ve gain enough experience doing other things related to the game. I was hired at Sega because of my msc in AI but im not doing AI yet because i need to understand the various aspects of the game first and learn from the more experience programmer before they give ya something as big as building the core ai for the next-gen game. I wouldnt want to be thrown into it anyway. Its too crucial. You ask most people who start in games development few went straight into something they were trained for in college, unless you come off a games degree.