The 2 gauge copper wire in free air (strung from the utility pole) can carry 150 amps. In a cable or conduit coming down to your panel 2 gauge is for 100 amps. Splice on a 1/0 or fatter copper up at the entrance head to bring down 150 amps.
The unequal sized feeders were probably intended to go first to a disconnect switch and then branch to a 120/240 volt single phase subpanel and to a 3 phase subpanel.
Stick to your lawn watering schedule until it really starts to pour. After the storm you have only the same number of rest days you always had and then you need to start watering again.