Sorry Rick, but call me a skeptic!! Competency Based Ed is Outcome Based Ed.
We have it in NH and if you look at the competencies, many of them are NON-academic. ie...we are back to trying to change the attitudes, beliefs and values in students rather than giving them academic knowledge. I would suggest going through every competency in the school before praising it.
In one district in NH, the competencies for a Personal Finance class included having the students read a pro-Marxist book written by a Socialist. (remember, OBE is about changing the values in students)
It might not be the lazy hippies who have a problem with a character report card.