Grim Fandango can now be played with point and click control in all scenes, including the scenes where the camera shifts to close-up view. It also has a new point-and-click inventory system. In order to accomplish this feat, Tobias had to make major modifications to both the ResidualVM code and the game source. Luckily, ResidualVM's PatchR code allows for fan patches to be applied at run time, so all that is required to run this is the original game, just as the main ResidualVM branch.
Tobias has released a Mac and Windows build of Grim Mouse, and the sourcecode is freely available if you want to compile it to try it on other platforms. It is currently in beta phase, so there are likely to be bugs present since it hasn't been fully tested yet. If you want to participate in the testing, or just want to try it out for yourself, head over to the Grim Mouse thread on the ResidualVM forums.