I think 100-150 $1s, 300-360 $5s, and a barrel or two of $20s should be fine.
For 100/360/40, you have a bank of $2,700. For 150/310/40 you have a bank of $2,500. If that works for you, maybe you're fine.
But given everything you've said above, including their dislike of a $20/$25, I'd consider skipping the denom entirely, and going to a hundo. A single barrel of hundos covers the bank you need, but allows you more of the small chips. If they're not going to actually play the $20s, no need to be locked into them.
And given that your buy-ins tend to be small for a 1-2 NLHE game (IMHO), I think it's a good idea to have more than 100-150 $1 chips. I suspect there's more betting of white chips than the typical 1/2 NLHE game!
So I'd propose:
160 x $1 - this means a full barrel per player on the table. Easy buy-ins, and less change-making later
320 x $5 - two barrels per player on the table is plenty of redbirds, and all-red makes easy rebuys
20 x $100 - the bank chip, for whoever is getting way ahead. If you have all the redbirds in play, it's an easy conversion to color someone up to get reds for a buy-in; a full barrel of $5 is a single hundo.
Total bank: $3,760, still only 500 chips. You have $1760 in chips without the hundos, a threshold you'll expect to cross - that's just a hair over $200 per player with eight playing - but a single barrel of hundos gives you plenty of headroom.