I have seen it a couple times for pumping stations. A quick glance might have you thinking this was regular single phase. You are right about the equipment tho. Everything must be 3p rated and for the applied voltage.
The grounded conductor, a phase, is still white and you have your EGC green or bare. You can have all 2 pole breakers as long as they are 3p rated. Other than the equipment listing issues it is not that confusing. Just remember there is no downsizing of the "neutral" (one of the few times when that term is inappropriate for a grounded conductor) [Linked Image]


Greg Fretwell