Great thread, but as a "former" now retired POCO guy, here's my humble opinion. Why put in a 150 Service? I wouldn't think it could be much cheaper than a 200A. Our utility has a facilities charge based on 200A and below being the same charge. We occasionally had a customer put in a 100A or 150A main (because the monthly fees were less) and then after the fact, would install a 200A main and assume the utility would never know. Most meters now are 200A, so a 150A would get the same meter. Wire size is based on connected load, but usually a 200A (or less) would get a standard 200A service drop wire size. I know 99.999% of people are honest, but there are that few who make the utility a bit paranoid. Most utilities will connect to whatever the customer has as far as riser conductors. Not our job to verify Code compliance. All utilities are different and unfortunately, for you, they usually have the last say regarding conduit size, panel type, connection location, etc. Sorry, but that's the real world. Easier to just make 'em happy.