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Multi-Agent Path Finding (MAPF) is NP-hard to solve optimally, even on graphs, suggesting no polynomial-time algorithms can compute exact optimal solutions for them. This raises a natural question: How optimal can polynomial-time algorithms reach? Whereas algorithms for computing constant-factor optimal solutions have been developed, the constant factor is generally very large, limiting their application potential. In this work, among other breakthroughs, we propose the first low-polynomial-time MAPF algorithms delivering 1-1.5 (resp., 1-1.67) asymptotic makespan optimality guarantees for 2D (resp., 3D) grids for random instances at a very high 1/3 agent density, with high probability. Moreover, when regularly distributed obstacles are introduced, our methods experience no performance degradation. These methods generalize to support 100% agent density.Regardless of the dimensionality and density, our high-quality methods are enabled by a unique hierarchical integration of two key building blocks. At the higher level, we apply the labeled Grid Rearrangement Algorithm (GRA), capable of performing efficient reconfiguration on grids through row/column shuffles. At the lower level, we devise novel methods that efficiently simulate row/column shuffles returned by GRA. Our implementations of GRA-based algorithms are highly effective in extensive numerical evaluations, demonstrating excellent scalability compared to other SOTA methods. For example, in 3D settings, GRA-based algorithms readily scale to grids with over 370,000 vertices and over 120,000 agents and consistently achieve conservative makespan optimality approaching 1.5, as predicted by our theoretical analysis.