The people at PSE&G were pretty good yesterday, and eventually I was able to speak with Sharon, who knew her stuff. I'm still a little confused but I think she's telling me that if I learn more about the new meter I will see that it actually does do everything I want it to do. I took a lot of notes and will look for the information about that meter that she said was on their web site (if I search for "net metering").
The oddest part is that they have no record that my meter was replaced last Thursday. That's unsettling. They even asked ME to read the serial number from the meter and call it in so their records will be right. Who was that guy who did the meter swap? Just some guy off the street?