Your transformer data you gave us said it was 30kVA.
To be able to use full capacity of the transformer @ 120 volts you will need 250 amp gear, 250 amp secondary conductors.
To be able to use full capacity of the tranformer @ 120/240 volts you will only need 125 amp gear, 125 amp secondary conductors. You will need to balance the load so each 120 volt leg is evenly loaded - especially when using near full capacity. Plus 240 volts is available should you come up with a need for it.
That is correct. I checked the panel and it says, max of 225 Amps. So, we are planning to change the main breaker from 175A to 225A so we can run close to the FLA if at all required. It seems this panel was initially designed for 120/240V and then changed for 120V only but forgot to increase the breaker amps.
We are not intending to change any other equipment, otherwise we will need to change both xfmr and distr pnl which is not a viable option at this time for us especially when there is no need of 240V requirement. But, I understand your suggestion and we will most likely design 120/240 in all future jobs. This seems to be one odd design