Why not give it a try? For the money it's a no brainer.
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The first modified Grado that i'm aware of was made by Bill Seneca and sold under the name of "Promethean" for $135. This was the cheapest Grado available at the time and Bill performed several different mods to improve it. After modifications, it was very close in some aspects to Grado's Signature model for a heckuva LOT less money. It didn't have the high frequency extension or articulation, but it was also less than 20% of the price of the Grado Signature!!!
Given the performance of the "ultra budget" Grado after mods, i wouldn't doubt that Van Alstine's version of a modified Grado is also an over-achiever for the money spent. While i don't know about the front mounted "longhorn" extension that he uses ( i see the potential for additional problems coming out of this ), the reduction of internal resonances within any phono cartridge is always going to be beneficial. At that price, it might not be a bad thing to try out. Given that Frank stands behind all of his products, you might have stumbled across a product that you may end up thinking is a phenomenal product and a great bargain. Sean