| I couldn't find any other user group, so if this is not the right one, I | apologize.
This is a good enough place for this issue.
| I have some knob and tube wiring accessible from my basement going to | several old (2 wire) receptacles. Can I simply connect a ground(ing) | wire from a near-by gas pipe to new 3 wire receptacles, or must the | ground(ing) wire be connected to the ground bus of the main circuit | panel box?
It MUST be connected to the ground bus of the main circuit panel. Since you mentioned "main" I presume either the circuits involved truly originate only at the main panel, as opposed to a sub panel, or you only have one panel.
Although the grounding wire does not normally carry electrical current, it would carry such current when there is a short circuit between a line wire inside an appliance or outlet box, and the containing grounded box. The intent is for this short circuit to briefly carry a high enough current to quickly burn out a fuse or trip a circuit breaker. What you do not want is for such a short circuit to ignite a gas explosion.
Furthermore, electricity travels in a loop (called a circuit). That's why there are two wires (or more in certain cases) carrying current in any circuit. There is also a magnetic field established between these wires. By keeping the wires close together, that magnetic field is limited in size. If the wires were spread apart too far, the magenetic field would be wider and would induce electrical currents on other metallic objects. The grounding wire needs to follow the other two wires in the circuit for this reason. That short circuit that could happen could result in a very large current and strong magnetic field for a brief instant (until the fuse or breaker opens the circuit), and that field could cause other problems in addition to impeding the fault current flow intended to blow the fuse or trip the breaker.
Also, the gas pipe itself may not have a good solid return path to the electrical source to allow the full fault current flow.
Ask yourself: Do I think it is cool to have 1000 amps of electricity flow over my gas pipe? Do I even want to live nearby anyone who does that?
With all that said, I would not add grounding to any knob and tube circuit. Either I would leave the K&T circuit untouched, or replace it entirely with an appropriate wiring job with NM, UF, or MC cables, or THHN or THWN in conduit, depending on the circumstances and local requirements.
Do note that a GFCI outlet _will_ work (it will both provide the intended protection as well as having the test button function correctly) on an ungrounded circuit. You would just need to mark the outlet as having no grounding (I might fill in the grounding pin hole with a hard resin, but I don't know if that is legal to modify it as such).