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Athens, TX | I will reply here because I finish about 100 head out of 250 per year on grass that goes into an upscale grocery chain, and sell the rest as feeders for traditional markets.
What I put in my freezer is Grass finished. We prefer the taste. It has a stronger beefy flavor, grain finished tastes bland to me. My cattle are angus cross, I keep them until 24-26 months of age (steers weigh 1250-1300 and heifers 1150-1200), and finish them on small grain / ryegrass / clover. They will not finish on bermudagrass. My definition of finished is backfat thickness of >0.2. I had several that were 0.5 and 6. These would be choice plus or prime. They get no grain at all. I feed high quality hay (Vetch, Alfalfa, or Clover/ryegrass silage) during the winter slump. There is more expense due to planting high quality grass but also I get a premium. As far as taste, it is a personal preference but here is a link from the Wall Street Journal that supports Grass Finished beef:
http://online.wsj.com/article/NA_WSJ_PUB:SB100014240527487045753045...
As far as health benefits, the research on this is mixed. It is higher in Omega 3 fatty acid, Conjugated Linoleic Acid (CLA) and lower in Omega 6. This helps to prevent atherosclerosis. If you feed any grain the amount of Omega 3 and CLA will never be as much as if they only get grass / hay / forage. You can read studies that support both sides. However, there is a demand for it from urban consumers in part from Omnivore's Dilemma, King Corn, and other books / media that have influenced our society.
I will continue to do both as long as it is profitable and will try to provide what consumers want.
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grass fed beef
