Actually, I've always thought the best way to beat a Grinnell style team is to go make layups. They are essentially giving you layups if you can beat the press. So go shoot 80 percent from the 2-feet away, and if you defend the three-point line well, they're not likely to make enough three's to make up for it.
I actually think holding the ball through the shot clock plays into their hands. You now have to beat 5 defenders to get a two-point bucket, instead of a 2-on-1 layup. You'll have a harder time scoring enough points to outweigh their three-point baskets.
Of course, if you can't beat their press, it doesn't matter what you do.
Grinnell figured out the dirty little secret about the 3 point line. If you shoot 50 percent from the field, they only need a pedestrian 33 percent from behind the arc to keep pace. They hit 40 percent from outside, you need to hit 60 percent from inside the arc. Even your 80 percent from 2 feet only requires an excellent but by no means impossible 53 percent from downtown by The System running team to keep up on the scoreboard. And this doesn't factor in what happens if you start coughing up the rock.