The circuit feeds a number of transformers totaling 26.15 MVA, but I don't know the actual load. The CTR is set to 1200:5, the 51P pickup is set at 2 (480A pri), and the 50P pickup is set at 12 (5,760A pri) with a 1.0 sec delay.
This circuit resides in a substation that contains 4 other similar circuits. All were previously OCBs and they are now slowly replacing them with VCBs. The first one that was replaced was done by a different company. When it came time to replace 2 more OCBs, we got the job, and the customer told the project manager to install the same equipment that was put in for the first one. Because of time constraints, the PM ordered the exact same equipment without consulting engineering, and we got what was described in the OP.
Seems like poor engineering, or poor QC the first time around. I was under the impression that the company that spec'd the original equipment did good work (though I'm not saying they don't), so I'm a little surprised.
I'm a fairly new engineer, so I'm constantly trying to learn from other people's work. It can just be tough sometimes discerning between good and bad work, so any insight is appreciated!