djk,
I wouldn't say this system is over-specified, we use the same system here in NZ, except that the fuse is usually an HRC
BS 88 type in a PoCo sealed Pillar box (or up on a pole in an O/H installation).
The main switch, does not isolate the Metering equipment over here either, as only Authorised people have access to them.
Them cards on the meter-seals give a pretty good warning about tampering with the meters, We could do with having the same sort of cards over here!. [Linked Image]