-X-: Correct, the marking criteria is used quite rigidly, however it is never so rigid that correct answers lose marks. Also if for example the criteria says a mark is awarded for a loop then it is understood that the loop must be used in the correct context and work correctly. You can't just shove a loop in anywhere and get the mark.
It is true that for algorithm questions there will be some solutions that are a bit obtuse, but still correct, this is one of the roles of the senior markers, they ensure such solutions are marked fairly even if they don't fit the marking criteria.
Fosweb: When I was a senior marker for 3U we had many discussions about awarding marks for elegant solutions. Actually they were more like arguments, its not easy to define elegance in such a way that 30 or so markers will interpret it fairly!
The best way for you guys to help the markers is to just get all your algorithms completely correct, simple really!!!!