I agree.
That doesn't work. The grounding conductor rather than reducing the possibility of shock or electricution actually increases it by providing an additional conductor to complete the circuit to hot. You're pretty much guaranteed that a grounding conductor is available somewhere, even if it's only the earth. The odds of finding a stray grounded conductor are fairly inprobable.
The GFCI doesn't even look at the grounding conductor, it compares the current between the hot and neutral and when it finds a predetermined difference it disconnects. The idea is, if the current coming from the ungrounded conductor doesn't match the current in the grounded conductor, there is current going someplace that is unintended, probably the grounding conuctor, but that really doesn't matter.
Edit: GFCI's work without a ground.