There is no calculation that will tell you what the difference in registration would be of a varying load and changing phase angles. However, all of the phase to phase ( 208 volts) appliances such as water heater, dryer and range will measure 100% of connected load. If the power factor is unity (which is not very likely), then the registration on the phase to ground (120 volt) loads will be 75%. Depending on how much 120 volt load is on each leg and the power factor of the connected load, the registration can be anywhere from 44% to 140%. I have all of the calculations in a work book from a class I took that shows it.
It is also covered "Handbook for Electricity Metering".
The problem is that the phases are separated by 120?, instead of 180?. The modern residential meter, Form 2S, meters 1/2 the amperage and double the voltage for the line to ground loads.