From an electrical standpoint, the best system is a single point connection between the grounded and grounding conductors, and the most logical point for this connection is at the transformer.
Don(resqcapt19)
This is completely true when there are separate grounded and grounding conductors.
If one were the tie the neutral wire to the ground wire anywhere past the point of service, the ground wire would carry current in parallel with the neutral wire.
Thus if the utility company provided a separate EGC and you made a connection anywhere between the two, their EGC would become just another neutral.
However, I see no harm in bonding the grounded conductor to ground rods as often as anyone cares to *outside* of the residence on the line side for the simple reason that the grounded conductor is fully intended to be carrying current at all times. If that current is normal and intends to return to the transformer and wants to go via the earth, then it is simply a lower resistance path back (which is more efficient). It is not a diversion of current into a conductor that was supposed to be reserved for fault current.
So grounding the neutral at the meter, at the weatherhead, in the middle of your yard, at the pole, etc., will not energize your equipment grounds inside your house.
However, tying your neutral to your ground in your bathroom could be fatal even if that was the single point of connection in your entire system.
The best system, therefore, is not characterized strictly by a single point of connection between the two.
The best system is characterized by not making connections where it (illogically) energizes a conductor that is reserved for bonding and/or fault current.