I realize this thread is pretty old, but I've just run into the same problem and wanted to see if you had any other thoughts.
Using ArcInfo 9.3, I used SA to create a raster from a polygon shapefile. In a new map, with the raster from the previous step as the only data, I tried to use SA to Convert Raster to Feature (point).
I immediately get an error window with two error messages: Error 010244: Could not set the analysis window and Error 010067: Error in executing grid expression.
It appears that the grid is complete (all necessary files) and both the data frame and raster are Ohio State Plane South. I've attached the raster, in case you'd like to see it.
It seems strange that I can convert the shapefile to a raster but get an error when trying to convert the raster back to a shapefile.
Any thoughts are appreciated,