1) There are 2 breakers that are getting overloaded and not tripping. Basically, the entire panel must be replaced because of its age, some odd wiring the previous owners had done, and the fact there is no room to put an additional breaker.
2) to do any work on the panel, everythign up to the panel must be up to current code (Anything beyond the panel is grandfathered).
3) Because of that the original meter (circa 1965) must be replaced, as well as a grounding bar, and installing ground to the water line.
4) The current connection to the house must be replaced (It is currently sagging off the end of the house, so they want to install a stand pipe out of the roof for the main connection.
I have found agreement that just replacing the panel would only run $1000 to $2000. My question is if all the other stuff is necessary, and if it justifies the $4000 total estimate? I am in the metro St. Louis area.
PS. I know that someone will say that the utility company should replace the meter, but ours is only has to provide you with an appropriate one, you still have to pay for it and its installation.