I understand that a residential service panel requires 2 sources for
grounding. I was looking at a newly installed panel the other day and I'm
not sure that it was installed correctly.

This panel has a neutral bar on both sides of the panel and ground bar on
the right hand side only.

At the electric meter on the side of the house, there are 2 bare copper
wires running down the wall into the earth. These wires were existing prior
to the installation of the new panel. They look like this:

http://www.altfab.com/library/large/...TR-GRND-02.jpg

When the new panel was installed, a new ground wire was run from within 5'
of the water meter to the neutral bar of the panel. The neutral bar is
bonded to the panel with a large green screw next to the incoming service
neutral lug. I believe that this part is OK.

However, this is the part that I'm not too sure about:

Above the panel, there a ground wire clamped to a water pipe. This wire was
there before the new panel was installed. The wire was pulled into the new
panel attached to the ground bar.

Does that wire count as a second grounding point for the panel or is it
essentially the same point as the new ground that was run from the water
meter to the panel?

Shouldn't I be seeing something that directly connects the ground wires at
the electric meter to the panel?