find . -type f -print | grep -v -e stuff_i_dont_want | xargs grep -l what_im_looking_for
Will never work properly due to "typical delimiters honored" in *NIX/Linux

Basically whe I know there are funky things going on I do an in-line replacement, this specific one should help you.

find . -type f -print | sed -es/\\ /\\\\\\\\\\ /g | grep -v -e stuff_i_dont_want | xargs grep -l what_im_looking_for

Basically you have to use a double escape on a double escape to get it right for commands further down the line.

Heres hoping.