This is Turtle.
I have say I got it backwards to be completely saying the story. You can get 150 amps on each leg . Then you fill in the blanks as to using 220 volt sevice of both legs. Then when you say the box is only good for 150 amps at 220 volt service. Your saying your drawing 150 amps from each leg and that adds up to 300 amps you will really be drawing from the box with 150 amps from each leg. When you say 220 service breaker in the 150 amp box they are drawing 300 amps in the real world. You may try to explain it differently but it mounts up to 300 amps by way of 120 volt draw.
The meaning of 220 volt service at 150 amps means you can pull 150 amps off each leg by doing so. This amounts to 300 amps if I use single breakers. Now you & Mr. Miller please explain what is wrong with this info ?
TURTLE