Proposed resolution:

Change [istream.iterator.cons] like so:

istream_iterator(istream_type& s);

3 Effects: Initializes in_stream with &s. value ...

And [ostream.iterator.cons.des] like so:

ostream_iterator(ostream_type& s);

1 Effects: Initializes out_stream with &s and delim with null.

ostream_iterator(ostream_type& s, const charT* delimiter);

2 Effects: Initializes out_stream with &s and delim with delimiter.

[ 2009-12-23 Moved to Tentatively Ready after 6 positive votes on c++std-lib. ]

[istream.iterator.cons] describes the effects in terms of:

basic_istream<charT,traits>* in_stream; // exposition only

3 Effects: Initializes in_stream with s.

That should be &s and similarly for [ostream.iterator.cons.des].