Oh, you'll have a great time! I saw it twice at the Museum of Modern Art when it was shown in conjunction with a Warhol-themed Sixties show.
Just to let you know, Grayson comes on in the beginning, and then about 45 minutes go by before her next scene. I think she has four scenes altogether in the movie. It's a very Sixties jumble of different stories that randomly intersect, sometimes in a very incoherent manner (this sort of thing is where Tarantino got the idea for the structure of Pulp Fiction).
A detail I happened to notice on one of the viewings (it was also shown twice at a film archive here in Boston) is that Grayson's cigarettes in the movie are Marlboros. I don't know whether this is what she actually smoked in real life.
cheers, Steve