At my utility, we will not supply single phase past 800A, and only then in special cases.
1)For overhead transformation, the secondary cables will be very large and heavy, and place awkward forces on the pole.
1)This amount of unbalanced load can begin to mess up our ability to conveniently phase balance the currents on the distribution system (and therefore balance the voltages).
2) Utilities don't stock that many 100kVA (or 167kVA) transformers compared to the three 50kVA units that a 3-phase service would require (if overhead),
3)1200A services are definitely going to require external current transformers at the metering point, whereas 400A services (320A from the utilities' POV) are sometimes handled via self-contained meters in standard meter bases.
4)Have you spec'ed the required secondary cables yet? 1200A needs multiple runs of some pretty bulky cables (I am not going to get specific as local codes vary), particularly if you have to go any great distance (120/240V systems reach a 3% voltage drop quite quickly.).
Using a 400A / three phase system is usually CHEAPER to install than a 1200A single phase.