The (200)208- versus (230)240-volt compromise is described in a “treaty” of sorts between a committee of electric utility and appliance-/equipment-manufacturer representatives, currently in ANSI{NEMA} Std C84.1-1995 Electric Power Systems and Equipment—Voltage Ratings (60 Hertz)
The matter is further complicated in that constant-resistance-load power varies with the square of terminal voltage, and electromagnetic devices are closer to constant-kVA, where, roughly, current decreases with increased terminal voltage.
[Coincidentally, the ‘gap’ shows up at 4.16-4.8, 12.0-13.8 (or 14.4) and 115-138kV levels. The voltage ratio is very close to (2-[√]3)/2, where inherently a factor of 2 relates to equal series/parallel components and [√]3 relates to ø-ø/ø-n quantities.]
IEEE Std 141-1993 [Red Book] Chapter 3 discusses ‘accepted norms’ in fair detail, but still leaves the end user with less-than-ideal circumstances for most efficient operation over a ~13% voltage span.