"Svante Carl v. Erichsen" Svante.v.Erichsen@web.de wrote:
from chapter 7.1.4:
"If a slot has both an :initform form and an :initarg slot option, and the initialization argument is defaulted using :default-initargs or is supplied to make-instance, the captured :initform form is neither used nor evaluated."
This is also a good point, although Section 7.1 is entitled "Object Creation and Initialization", so it's probably not meant to describe what can or cannot happen before the first instance is created.