You are right usually close to 127V to ground, but i may drop to 0 if its a fault somewhere, or raise to 230. Sometimes it is much higher voltages to, or peeks, but it is a sort of fusing in the transformer center who shorts to ground if to high voltage. (at least more than 230)
I know a student who did the trick mentioned over, because it was a fault somewhere outside his apartment, so he had 230 to ground. He just removed one fuse (the metered leg), and linked the ground to the disconnected wire. That way he could get 10 amps "free".
Regarding feeling the voltage. The caretaker at the old STK (=STC) in Oslo didn't like to climb the ladder so he always tried with his fingers if it was OK before he put in an an lamp. :-) (about 1970)
