I think the biggest reason may be that the incident energy from lower voltage ground faults is as much as a fifth lower than a ground fault on a 480V system. If equipment is not likely to be as likely to be permanently damaged by a ground fault, there is less excuse to use the system.
Check out Mike Holt's recent newsletters on the topic for more information, I'm woefully underinformed as to the application of High Resistance Grounded systems.
http://www.mikeholt.com/newsletters.php?action=display&letterID=281
Edit to add: below is a link to the other thread in progress, about the same topic. Perhaps the discussion could continue over there?
http://www.mikeholt.com/code_forum/showthread.php?t=82235