John, good question I vaguely remember it being raised way back when I attended NEC Training Seminars. Best I recall it was explained (By Mike Holt or Joe Mc Partland NEC board members and experts) we were to: First calculate the maximum continuous current,,,,,,,,,Then size conductors to have a minimum ampacity of 125% greater,,,,,,,,,,,,,THEN WE SIZED THE OVER CURRENT PROTECTION DEVICE TO PROTECT THE CONDUCTORS (not so much the devices). Other factors we took into account were diversity and using multiple devices on a single branch circuit. In that situation there might be a 20 amp branch circuit using 12 Gauge 20 amp rated wire protected by a 20 amp circuit breaker while if there were say four devices each may only draw 3 or 4 amps SO MORE THEN ONE 15 AMP RECEPTACLES WERE STILL PERMITTED on that 20 amp branch circuit.
As a practical matter when I practiced power distribution I may have specified 120 Volt 15 Amp NEMA 5-15R Duplex Receptacles on 20 amp branch circuits in residential BUTTTTTTTTTT in Commercial and Industrial applications if I used a 20 amp branch circuit I only used 20 amp NEMA 5-20R receptacles or switches.
As always, where fire and life safety is concerned consult current practicing professional engineers (NOT me I'm retired) and electricians, the NEC and any local authority and don't bet your home or life on lay opinions on a tractor forum.
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