Using existing All-in-one as a panel without a meter

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earshavewalls

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We are having a debate in the office over the listing and use of a panelboard that is listed for use as service equipment being used soley as a panel, without using the meter section of the equipment.
The equipment in question is an older (70's) all-in-one that does not have the permanent bond for the grounded conductor. The meter section (overhead drop) has been sealed with listed products, hub cap on top and listed meter socket cover and sealing strap. The meter jaws and associated hardware have been removed from the old service. The panel section is now being fed from a 2-pole breaker in the new service located around the corner of the house, approximately 10' away from the existing.
Now the old service is being used as a panel, main lug only, to continue serving the exisiting circuits.
The U.L. White Book, under Panelboards, shows the multiple listings that may come with a panelboard. The only way I see that would prohibit the use of the older all-in-one would be if it were listed 'Only' for use as service equipment; however it is listed 'Suitable for use as service equipment'.
All other code issues are compliant, grounding, bonding, floating the neutral at the new-old panel, etc.

What do you electrical gurus think about this? Good to go or Not good to go?
If not, then why?
 
Thanks y'all. I had a senior inspector here try to get me to not allow this, after I already told the electrician that it was OK. He gave me reasons like, "They'll just add something to the panel after we're gone", and other non-issue reasons, and then finally told me that they (the senior inspectors) were trying to get to the point where they would NOT allow the use of existing equipment when a change-out or upgrade is performed.
They may feel uncomfortable about allowing it, but I tried to emphasize that "our comfort level is not at issue, the code is!"
They allowed this one, but I feel that a bit of conflict is developing.

Thanks for the comments.
 
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