Just fiddling with it...
You will notice after using the above instructions that the grid lines aren't anti-aliased. For that you need to use the trick that I often used with Polar Coordinates; create a document that is much bigger than you need and size down after applying the grid, in this example I sampled down from 3000x2000 pixels, it makes the lines much smoother.
So maybe this example can help you to memorize the vanishing point grid, you never know when you might need it.
Feel free to share a quick little design that makes use of the grid or suggest other uses for it.