For mole control, there is nothing more effective than trapping. Don't get me wrong, using Grub-Ex is a great first step... I do it myself. However, there are still plenty of other food sources underground for them. Moles LOVE worms, and you need worms in your lawn.
I tried every gimmick product on the market for 2 summers only to have runs and hills everywhere in my lawn. The lawn looked like a warzone. I finally wised up and bought a handful of traps. I've used both harpoon style traps and scissor traps. The first summer I set the traps, I caught 7 moles. 6 with the scissors and 1 w/ the harpoon style. Keep in mind this was on a 1/4 acre lot!!!
This spring, I left the harpoon traps in the shed and only used the scissor traps. I had 3 kills in April, and I didn't see another mole ALL summer.
My in-laws called me over this spring to trap their lawn. I set some traps in their lawn in May... killed 2. They didn't see any more mole activity until 2 weeks ago... until I went and trapped and killed that one too.

So to sum up my rant here... A grub control is a good first step, but trapping will cure the problem. If you can get them early enough in the spring before they reproduce, there are far fewer to worry about all summer. However, don't be surprised if one or two migrates over from a neighbors lawn.
For mole control information, go to this site...
Moleman This guy knows more about mole trapping than any human should, and its where I went to educate myself to win this "war."