"Makes sense, but I'm sure you're aware of all issues with a standard 2 conductor line. Most modern homes have been built with 3 conductors inbound and three conductors to every outlet"

This statement is a little misleading. Yes, a modern home's electric service has three conductors inbound - one ground, two hot wires (different phases). Each outlet has three conductors, but not the same as the three inbound. A single phase hot wire, plus a neutral and ground, which are tied together at the distribution box. So in reality, only two of the three wires from your electrical service are present at an outlet.

And being an EE (electrical engineer) has little to do with being an electrician.. I'm an MSEE, but wiring my basement addition took a whole bunch of different skills.

dave