25362,
From 15 years in natural gas measurement, that industry uses 14.73 psia as "standard" for the Natural Gas Industry (see API 14.3). I don't know where it came from, but that is the number they use. As long as everyone in a given transaction uses the same value it doesn't much matter.
TD2K,
Your technique implicitly determines density at "STP". I recently worked through a mass balance on a compressor station using density (at actual conditions) and got exactly the same numbers as another engineer who did the job last time using MW, moles, and actual pressures/temperatures. Neither calculation was particularly more difficult than the other, but each of us was more comfortable with our technique.
David