Bill- You are correct, codes require the sizing based on nameplate amps with no diversity or demand factors. A strict code interpretation requires that all motor loads be included at 100%. Even duplicate loads have to be included at 100% unless they are interlocked to prevent simultaneous operation. One inspector did not approve software interlocks in the PLC, they had to be hard wired.
NEC does allow some adjustments:
Section 220.60 "Noncoincident Loads. Where it is unlikely that two or more nonconincident loads will be in use simultaneously, it shall be permissible to use only the largest load(s) that will be used at one time for calculating the total load of a feeder or service."
Section 430.24 has an exception "where circuitry is interlocked" allowing motor feeder sizing based on the maximum load operating simultaneously.
My 2006 edition of the CEC has a similar exception for interlocked loads, [Paragraph 8-106 (3)], and a more liberal criteria for noncoincident loads in 8-106 (5) “Where a feeder supplies loads of a cyclic or similar nature such that the maximum connected load will not be supplied at the same time, the ampacity of the feeder conductors shall be permitted to be based on the maximum load that may be connected at any one time.”
In the CEC Section 28 for Motors, 28-108 (3) addresses demand factors “Demand factors shall be permitted to be applied where the character of the motor loading justifies reduction of the ampacity of the conductor…..”
For most industrial installations, the AHJ's allow engineering judgement, but not always. That is why I say be be prepared to justify your assumptions and calculations.