Additional notes (September, 2012):

It appears that 12.2.4.2.6 [over.ics.list] will also need to be updated in parallel with this change. Alternatively, it may be better to change 9.5.2 [dcl.init.aggr] instead of 9.5.5 [dcl.init.list] and 12.2.4.2.6 [over.ics.list].

In a related note, given

  struct NonAggregate {
    NonAggregate() {}
  };

  struct WantsIt {
    WantsIt(NonAggregate);
  };

  void f(NonAggregate n);
  void f(WantsIt);

  int main() {
    NonAggregate n;
    // ambiguous!
    f({n});
  }

12.2.4.2.6 [over.ics.list] paragraph 3 says that the call to f(NonAggregate) is a user-defined conversion, the same as the call to f(WantsIt) and thus ambiguous. Also,

    NonAggregate n;
    // #1 (n -> NonAggregate = Identity conversion)
    NonAggregate m{n};
    // #2 ({n} -> NonAggregate = User-defined conversion}
    // (copy-ctor not considered according to 12.2.4.2 [over.best.ics] paragraph 4)
    NonAggregate m{{n}};

Finally, the suggested resolution simply says “initialized from,” without specifying whether that means direct initialization or copy initialization. It should be explicit about which is intended, e.g., if it reflects the kind of list-initialization being done.