Let's review RCNYS 2010 (ICC 2008) Appendix "J" which applies to existing one & two family homes:
J508.1 General. Any alteration to an existing electrical system shall be made in conformity with the provisions of Chapter E33 through Chapter E42.
If a panelboard replacement is an alteration, why doesn't the following apply?:
E3802.11 Arc-fault circuit-interrupter protection. All branch circuits that supply 120-volt, single-phase, 15- and 20-ampere outlets installed in family rooms, dining rooms, living rooms, parlors, libraries, dens, bedrooms, sunrooms, recreations rooms, closets, hallways and similar rooms or areas shall be protected by a combination type arc-fault circuit interrupter installed to provide protection of the branch circuit.