Showing the Y coordinate of each point on a grid

Someone on the community forums was asking for a way to show the y coordinate of each point on a grid.

I gave it a quick try with ICE:

This ICE tree gets the point position, converts it to global coordinates, and stores it in an attribute. Then I just use Show Values (or an Attribute Display property) to show the coordinate value in the viewport:

Works ok but not great. The update is not interactive, you have to refresh the simulation to get the latest values displayed.