If you are a cessationist, you should really read this argument by Nate Busenitz. It is one of the finest supporting that point of view and it is written in a Christ-like manner (uncommon these days on both sides of the issue).
And if you are a continuationist like me, you should really read that same argument and then go back to Scripture to understand why you still think as you do. I found this very thought provoking on both the point regarding prophets and apostles.
My personal take on the matter is that either way, the argument does not mean that "spiritual gifts" ceased. I think that if Grudem is incorrect, it simply supports that the role of Apostle and Prophets has ceased. I think that does not negate the idea that some are still apostling and prophesying.