The JJB Sports Premiership showdown with champions Linfield is a daunting prospect for the Dumahoe club.
But following Tuesday's derby victory over Coleraine, Gregg is relishing the trip to the international venue to take on David Jeffrey's all-conquering Blues.
"We had a good win against Coleraine, and I was delighted because we were all disappointed after our opening day defeat to Bangor," Gregg said.
"We should have won at Clandeboye Park but it wasn't to be, but I asked my players for a reaction against Coleraine and that's what I got.
"But it has to be said that Linfield is a massive test for us. People can say what they want about the Blues but they are still the team to beat. It will be extremely difficult to come away from Windsor with some reward."
Linfield opened their Premiership account with a 1-0 win over Newry City last weekend, but required an injury time goal on Tuesday to earn a deserved draw against Dungannon Swifts at Stangmore Park.
And despite some onlookers continuing to doubt the Blues' credentials, Gregg is quick to deflect the criticism aimed at David Jeffrey's side.
"They are still a very good side, it doesn't matter what people say," the Institute boss added.
"People say it might be a good time to play them, but the flip-side is that they could be a wounded animal, and we all know how dangerous that can be."
Gregg is without John O'Loughlin and Ruairi McClean who both limped off against Coleraine in midweek, and the Stute manager might not risk teenage midfielder Philip Lowry.
"Philip played two games for Northern Ireland Under 21s last week and then played against Bangor and Coleraine. He has played four games in little over a week and it is starting to take its toll on the lad," Gregg said.
"I have to look out for him and protect him as much as possible, so maybe Friday's game will be one too far for Philip. We'll assess him on Friday and take it from there.
"He is an honest lad and would play if asked to do so, but we can't expect him to continue playing as many games as he is currently doing."