Is 100 points a standard "pick up" game squad list? Is it because that's the tournament list amount? I'm sure there must be a good reason for it but to me, not knowing much about the game and considering ships to buy, 100 points just seems so arbitrary to me. I mean, why not 75, why not 150? Is game balance an issue if you exceed that limit? If I show up to the game store and ask someone to play a 150pt game am I going to get pelted by rotten vegetables? Forgive my ignorance, just something that's been bugging me.

I think part of the reason is time. As I keeping game lengths short enough that several can feasibly be played in one evening. I'm sure if you show up looking for a 150 point game you will find takers with out trouble.

We did an escalation league that started at 50 points and by the end went to 150 and it was fun. So no you don't have to run at a certain point value but the rules recommend 100 so that is what people prepare for.

Using squads of 100 points is mentioned several times under the Squad Building section on page 18 of the rules in the core set. That sure seems like a solid reason you see 100 points being listed as the standard.

I've played a few 150-point games and they are a lot of fun. You get spoiled though and it can be tough to go back to 100-point squad building afterwards.

I look at the 100pt limit the same way I look at 1500pts in 40k. It gives you enough points to take some fun things, but you really have to think about list creation. You can't have all of the cool things on every ship. You may have to sacrifice an upgrade here or there to be able to get the ship you want in, or you may have to sacrifice a ship to get the upgrades you want.

100 is not set because its the tournament limit

the tournament limit is 100 points because the 100 point limit is already set by the rulebook

I would go so far as saying the rulebook "sets" the game at 100 points but it does strongly suggest that point value and uses it for most references.

While you can argue about them being correct or not it is pretty clear that a number of things are designed around 100 point limits. You see the Rookie X-Wing priced at 21 points to prevent five of them from showing up in standard tournaments. On the Imperial side just a couple points over 100 would allow you to fly Howlrunner plus SEVEN APs.

If you want to jump up to 150 there's nothing that really stops you but one really should keep in mind how much difference just a few points can make when it comes to squadron creation.

I also think 100 pts is what they play test and cost ship with. Assuming that the tournament lists are what will be played most and need to be balanced.

Its preference of play. The one and in my opinion the main reason people only play 100pts is because when you enter any sorts of X-wing tournament it is a 100pts dog fight.

People tend to want to practice as much as they can with the given limitations. I mean there is no point in playing 150-200 pts with your friends then enter a in store or regional tournament going oh ... what am I going to use? as I have been playing with these ships and modifications, im really good with them however they are worth 175pts.

This is in my opinion why people rather play 100pts limit.

However it does not stop you from playing with added limitations as I have for "fun", I have played 200 pts limit with my brother in law and it was an epic battle, however as the OP mentioned its very time consuming that particular battle lasted 2.5 hrs. Another scenario I have done is a 3 way dog fight 100pts limit each and as well as 2v1 200pts vs 2x 100pts.

These scenarios are viable however are not official so its simply for fun.