FOR RESIDENTIAL AC COMPRESSOR HOOK-UP--2002 CODE WILL NOW REQUIRE A 120V OUTDOOR RECEPT. IS THERE A DISCONNECT OR A METHOD TO REDUCE INCREASED COST AND WORK FOR INSTALLATION?

Place the compressor close to the recept provided in the front or back of the house.

I'm sure some company will start making one, but I don't really see the need. The disconeect will surely cost a good bit more than a cheap A/C disconeect and the contractor will pay for the one you have to install and it won't be that expensive anyway.

Not to mention that you pull a 10/2, 8/2, or 6/2 to a 240v compressor which means you have no neutral to serve a 120v recept.