One of the things I had not gotten around to doing in ArcGIS 10 was figure out how to directly manipulate the geometry of a record using the Field Calculator. When I stumbled upon a bug in the way the Extract Values to Points tool handles Null geometries, I figured it was time to figure it out. Setting the X, Y to 0,0 was sufficient for my needs. I set the Parser to Python and the formula was simple once I figured out the syntax: