Proposed resolution (04/01):
Change the first two sentences of 12.2.2.4 [over.match.ctor] paragraph 1 to
When objects of class type are direct-initialized (9.4 [dcl.init]), or copy-initialized from an expression of the same or a derived class type (9.4 [dcl.init]), overload resolution selects the constructor. For direct-initialization, the candidate functions are all the constructors of the class of the object being initialized. For copy-initialization, the candidate functions are all the converting constructors (11.4.8.2 [class.conv.ctor] ) of that class.
Change the first sentence of 11.4.8.2 [class.conv.ctor] paragraph 3 to read:
A non-explicit copy constructor (11.4.5.3 [class.copy.ctor]) is a converting constructor.