Transforming from SRID 4267 to 4326 returns incorrect result

[realityexists]

PostGIS 2.0.0 as of 2011-11-08

select st_astext(st_transform(ST_GeomFromEWKT('SRID=4267;POINT(-70 10)'), 4326));

returns POINT(-1.22173047639603 0.174532925199433) which is way off. However

select st_astext(st_transform(st_transform(ST_GeomFromEWKT('SRID=4267;POINT(-70 10)'), 3395), 4326));

returns a point very close to the input, as expected.

In 1.5.3 the first query results in an error (see defect 318), so this is not an entirely new issue. However, on 2.0.0 it returns a bad result, which is worse, because the problem is much harder to detect.

[pramsey]

Fixed at r8880