bgpowellI read sometime last year that the regulatory agency for the utility companies relaxed the standard for 60 Hz, because it was too expensive ...
I think your memory is failing you. First, there is no single regulatory agency for power distribution. Rather, regulation is left to individual states.
In the US, there are numerous distinct electric power distribution grids and they are managed by the non-profit NERC. It ensures reliability and sets the standards power suppliers must observe. Among them is power line frequency.
Power line frequency is tightly controlled within each regional grid. That is because each regional grid is supplied with power from multiple energy providers and all of that power must be properly synchronized (within tolerance) for the system to be reliable. The actual voltage provided by individual suppliers has a fairly wide tolerance - but not so the frequency.
The stability of the each regional grid hinges in large part on that tight synchronization of power, which is typically around ± .5 hZ. If imbalance between load and demand causes a substantial frequency deviation, automatic relays will shed load to preserve the frequency and the stability of the remainder of the system.
Of course, that may not be a tight enough spec for audiophiles using a synchronous motor on their turntables. For them, there are products such as the VPI SDS or ADS, and other products such as PS Audio’s regenerators.