When I was younger, I was all for reducing panel footprint and using push buttons or an HMI. The longer I have been in the game the more I think that it is a bad idea or an idea with few benefits. SEL and other relays claim to be able to mechanically lockout devices and for some of their contact switches to retain position on power failure but I don't see anything that is as straight forward as a physical contact being open or close. It is the standard way of doing things. Lockout and tagging it out is similar to all other equipment. I would feel comfortable betting my life on the device not failing. I know it can be done other ways but I am unsure if the benefits outway the risk. I could see it for maybe low voltage equipment that it isn't a big deal if it misoperates, like small pumps. I don't know. It feels like a solution in search of a problem. I don't know if space is much of an issue due to the fact that you want equipment segregated if you can so when you have maintenance you aren't taking out two lines or two seperate pieces of equipment at the same time. That said, I have seen substations that went all the way with 61850 and they look very clean.