[ Kona: the original proposed resolution wasn't quite right. We really do mean rdstate(); the ambiguity is that the wording in the standard doesn't make it clear whether we mean rdstate() before setting the new state, or rdsate() after setting it. We intend the latter, of course. Post-Kona: Martin provided wording. ]

Proposed resolution:

In [iostate.flags] paragraph 5, replace "If (rdstate() & exceptions()) == 0" with "If ((state | (rdbuf() ? goodbit : badbit)) & exceptions()) == 0".

The Effects clause in [iostate.flags] paragraph 5 says that the function only throws if the respective bits are already set prior to the function call. That's obviously not the intent. The typo ought to be corrected and the text reworded as: "If (state & exceptions()) == 0, returns. ..."