Crossword Genius

Grand party where we may well end up? (5)

Ross

I believe the answer is:

grave

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'where we may well end up?' is the definition.
Although both the answer and definition are singular nouns, I don't understand how they can define each other.

'grand party' is the wordplay.
'grand' becomes 'G' (G is short for ground as in a thousand).
'party' becomes 'rave' (type of dance party).
'g'+'rave'='GRAVE'

Can you help me to learn more?

(Other definitions for grave that I've seen before include "Hazardous" , "Solemn; tomb" , "Sombre in the sepulchre" , "of importance" , "Grim-faced" .)

I've seen this clue in The Guardian.
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