I like the 600 volt idea with the exception mentioned so you dont need the EGC - just two wires. Here is an example of some transformers, not sure how good the price is.
http://www.transformeronline.com/product/600v-120240v-single-phase-transformers/
Use aluminum wire. For the 120 V option, say 20 amps = 350 URD aluminum (2 X 350 USE/RHH plus 1 X two size reduced neutral/ground) is $3 per foot, keeps you around 4% drop. With 600 volts, you would just need 2X #6 aluminum which is about .20 per conductor per foot, plus smaller pipe as a bonus. So save $3500 on wire, a little more on smaller pipe, but have to pay a grand for the two transformers. Still seems worth it.