Didn't I reply to this? Perhaps I screwed up and mis-posted to someone else's thread?!
150# MI SCREWED fittings per B16.3 are often used with plain or galvanized steel pipe of the two grades mentioned. Pressure ratings are limited to 300 psig at ambient to 150# at steam saturation conditions (177 C) which is their maximum allowable temperature.
Typical services include water, low pressure natural gas distribution, air, low pressure nitrogen, (very) low pressure steam/condensate etc.
300# MI screwed fittings have ratings which depend on size and temperature and are much higher than the 150# fittings- but lower than those of A105 forged 3000# fittings. They're rare in the local area here and are easily mistaken for the stronger 3000# fittings. We don't use them as a consequence.
Neither can be welded- screwed connections only.
Beyond 2" therefore we tend to use Victaulic in these services (except steam/condensate), rather than the more expensive option of butt-welded steel fittings.