** This issue is addressed in ArcGIS 9.0 Service Pack 3 (SP3) **
Performing a "Raster::SaveAs" on a 32bit raster and having the output set to GRID may cause an automation error in ArcObjects.
This is a known issue.
** This issue has been addressed in ArcGIS 9.0 Service Pack 3 (SP3)
Click on the link in Related Information below for Service Pack 3, if necessary. **