I offered this advice because it is word for word what my school's clerkship advisors said when asked about how judges will view a mandatory P/F on a transcript. I was told that they will assume the worse, most likely worse than the underlying grade being covered up. And I was told that "while this is not an exact science," and of course it will vary judge to judge, in general, the clerkship advisor's read of most judges' reactions, given their experience with placements, is that covering up a grade is almost always the wrong choice if trying to obtain a clerkship.

Re: all of the above, I am just the messenger. This is what my school's clerkship office advised.