Yes its in CT. and it would be easier to install a stack, but the supply house quoted me without a bypass when I asked for bypass, after giving quote to customer and put them under contract I found out it was without bypasses, which is a 800.00 plus difference and takes 10 days to arrive... so now I'm trying not to loose my shirt LOL.. I normally would install meter banks.
I'm pretty sure this stickum I have on my desk that says 3-gang, $509.00 is a quote from EW (Electrical wholesalers about a year ago) for the horizontal meter, 3 positions with bypass, because even UI wants bypass levers for multifamily.
You can probably do it the way you said. Material wise with 3 bypass meters, the trough, bugs, etc the cost is probably similar but more work. I know the stack (vertical) banks are more then the horizontal. You would want to get approval from cl&p first which could take time. Hope it works out, I've been in that situation myself.