Warning: These are opinions and do not represent fact or actual engineering analysis.
Tube selection depends on the vehicle and must take into consideration any aesthetic or other limitations (exo, access requirements, etc) to the design.
Assuming ideal configuration properly using triangulation and support, I think 1.5 x 0.120 HREW should be fine for something less that 5000 lbs that you don't expect to severely beat on. What I mean is that it should hold up to protect you in a hard roll, but it wont stand up to frequent rolls. It will be too soft and dent/deform too easily to really beat on it. It will also take a bit more tube than usual to get suitable support for approaching 5000 lbs. 1.75" tube is considerably stronger than 1.5", more than you would think from just 0.250 larger diameter. I would tend to prefer 1.75" for anything over 4500 lbs or so (even considering an ideal design), and DOM or heavier wall tube for impact/abrasion surfaces. The new buggy I'm kicking around would (hopefully) be under 5k with 1.75 x 0.120 HREW cage/body and DOM for rockers and such that take lots of hits.
Like I said, these are just my opinions based on what I've seen, read, and discussed with others who know more than I do...