Hi Lou:
If EC is given, there should be firm guidelines on how it should be administered, under what conditions, and to what degree. I think this is best done in writing and discussed on the first day of class. I agree grades and points are secondary to leraning the required course material. What good is it if the assignment is to "make a cake", but the student can only "make soup"?
It sounds like you have established a system that works for you in your classes.
Regards, Barry