Harold & Celtic:
Good topic, & a great link.
"Rehab" IMHO, is one of the most abused UCC sections. Without typing a long litney, the following is my opinion, and that of some other AHJ's.
Installing a new HVAC CU would require compliance with the current NEC at the time of application. (2005 now). Dependent on the existing conditions of the structure/jobsite some 'clearance' issues may be waived.
Replacement CU basically is 'the best that can be accomplished' under existing conditions. MOCP has to be correct, wiring method has to be in conformance, and clearances are judgemental.
"Rehab" was intended to return downtrodden structures to useful purposes. It's being 'abused' in some instances, and results in what may be best said as 'hostile conditions'. Putting a $400K 'addition' on a cottage and attempting to play the "rehab card" for NEC compliance in the 'addition' was a common issue. (Which was discussed and corrected)
Celtic, Thank You for the link, it's easier reading then 5:23 text, and should help out anyone who reads it.
John