Wow - those lugs in the pictures look pretty bad. I would immediately get some no-ox from the closest electrical supply or big box store, pull the meter, and clean the lugs and cables. Then strip back enough insulation (probably 1") to mount a split bolt connector, and apply no-ox to the aluminum, and mount it to the copper wire. Then wrap the connections with electrical tape, and re-tighten the previously corroded lugs to 50 or so ft-pounds with the copper only in the lug. By doing so, you have fixed a possible impending fire due to corrosion, which is looks pretty bad in the picture.
None of the wiring appears to be suitable for a 200 amp service unless I am misjudging the picture. As long as the actual ampacity ratings of the wire itself are not exceeded (100 or so amps) then you should be ok for a while, assuming that your system ground is functioning. Considering the way the rest of the wiring has been handled, I would be examining the ground, taking some pictures, and posting that next.
Good luck!