Daryl,
One obvious solution is to create a copy of your table and create a small buffer around the points. In this way you can use the standard methods for selecting points within polygons.
Another solution would be not export you grid as points, but export them as polygons/grid cells. This would of course give you a similar result to just using the Point Inspection tool under Raster Operations.
So maybe I have overlooked exactly what you are trying to do?