Hi Al,
Yes, the main switch on the distribution panel for single-phase always opens both hot and neutral (the hot is colloquially called the "live" here). A 3-phase service to a commercial building would be arranged the same way (with 3-phase meter and 3 main fuses of course), except in that case the main switch is three-pole and DOESN'T open the neutral.
By the way, the neutral link shown in the service fuse block (ahead of the meter) is a bolted terminal; it isn't broken by normal removal of the main service fuse.
Everything up to and including the meter is the property of the utility and is sealed.
Bonding is normally to whatever services are present - water and/or gas, although in some older houses (pre-WWII) it's not unusual to find no bonding in place.
Naturally the bonding to buried metallic pipes creates parallel ground paths, but most of any ground fault current would flow directly through the cable armor back to the xfmr.
It's not usual to have any separate ground rod with these systems; it's usually just as drawn. There's nothing in our "code" (IEE Regs.) to prevent the use of a ground rod as additional protection, but I've never seen one of these systems with it.
The older armored cables had a lead sheath and were then wrapped in some sort of hemp/bitumen covering. I've never worked on one directly (only utility employees can install or replace service cables) so I'm not sure of the exact composition. The later types are a steel-wire armor with a similar covering.
No new systems of this type have been installed for years, but the modern replacements for feeders are steel-wire armored with a PVC outer sheath.
