No bonding on the pipe nipple between the meter base and the disconnect. It doesn't appear that the jacket of the SER cable makes it beyond the clamp and into the enclosure; No GEC at the disconnect and of course, the EGC from the SER is far to large for the lug in the disconnect.
Oh and yes, Mike. This type of setup is perfectly legal and preferred when the panel can't be mounted immediately inside. That is assuming that it is done correctly of course.
That original installation looks to be one that may have been completed by the POCO. In this area, it was (and still is) preferred that they provide and install the cable on the top half of the service and provide the attachments. PEPCO and VA Power use those offset brackets to "reach around" the edge of the roof quite frequently.
Oh, and Tex: The black and red phase conductors land on individual jaws in the meter socket. The neutral conductor passes straight through. From the angle of the picture, it is difficult to see that there is separation between the upper (line) and lower (load) jaws on the left side.
