MI-L Grid Value Extractions

[Roy Roux]

Does anyone out there know of a MI Tool or some other GIS software that
will extract a grid Z value (i.e. elevation) based on vector point
table?  Another way to put this would be: For each point location within
one table return the Z value from a grid table nearest to the point and
store the Z value within column in the point table.  I am sure ArcXXX
would do this with some module but am not interested in spending that
much money for this one task.