Reddog:
I think maybe we are talking about two different things.
The standard you are referring to is for LV switchboards - basically NEMA PB-2, I think. This has a 3 cycle limitation.
However, Low Voltage switchgear is built to ANSI C37.20, and NEMA SG-5. This would be GE AK type gear for one example. It is also UL labeled.
The bus is thermally-rated as opposed to the switchboard spec which is based on current density.
The low voltage power circuit breakers in LV switchgear have a through-fault rating up to 30 cycles and do not require instantaneous trip. The bus rating and testing requirements are based on this fact.
This is why LVPCBs provide much better coordination than molded-case circuit breakers. And I don't believe this violates any aspect of the NEC as they are in common use throughout the U.S.
Regards,
dpc