I have also used opto22 with much success and minimal failures. Having been a plant electrican years ago in a food cannery (wired in 240 volt closed/grounded delta with 240 vac control voltage) that was one big daisy chain, i wish we would have had "isolation". Nothing like working on stuff with all power off, and catching a 240vac signal line from somewhere else that was dead when checked. Electricians usually stayed around one canning season. Did have lights on the hot side of disconnect switches so that you could see them at a great distance, to determine if there was power to the previous production line(s) or if things were down there because of a bad fuse, or ???
It may require a lot of enclosures and isolators and wire, but what the heck, if you can make it easier to troubleshoot, why not.
Big city engineer approach, put in lots of plc's and network them, have staus readouts all over.
Call up A-B and get out the checkbook, sorry, couldn't resist that one.
regards....casey