Darb -
I can shed some light on it, but perhaps not "Gospel"
The UR stands for Unit Record. Unit record devices process single records (e.g. printers, readers, punches). 2540R is the device type, i.e. a 2540 card reader. Since the 2540 also included a punch station, there is a 2540P device for punched output. Other device types you might have seen include 1403 printers, 3400 series tape drives, 3350 disk drives, etc. The S simply means Sequential.
Why all this rigamarole? Well, VSE is still rooted in DOS and the original DOS didn't have device independent IO. Your programs had to build channel (I/O) programs that were appropriate to the device type being used. This was done via different DTF types (for you OS/390 guys, think DCB): DTFSD for sequential disk, DTFMT for tape, etc. COBOL needed device type information to do that. The disk/tape managers developed for VSE provided device independence by manipulating the DTFs.
Now we have LE. LE still needs to construct the proper DTF which it does at runtime, not compile time as was once the case. LE can tell if you have a tape or disk file by examining the JCL and locating the TLBL and/or DLBL statements. Since there are no TLBL or DLBL statements for unit record devices, LE can't build the proper DTF unless you've provided device information in the program. Hence the stuff after the SYS number.
That's my take on the situation. I'm sure Gary Hasler from IBM Australia could provide better information (Gary is a real LE guru). He has lots of posts on the VSE listserver (VSE-L). You can search for his posts in the Google Groups.
Jack - as for your suggestion, you could ACCEPT the data, but you run into interesting issues (around end-of-file processing for example). Also, why go to great trouble to do something in an unusual way when a few extra characters in the SELECT statement can solve the problem? Most shops that have dealt in both the OS/390 and VSE worlds are quite comfortable dealing with these issues in this way. Also, I believe the approach I've outlined does allow you to put the "control card" or table data on disk or tape.
Regards.
Glenn