I think it could be read either way - but my first, and I guess intuitive, reading of it would lead me to say 'is' for the reason I stated.
I also personally feel that sometimes going with what I've been taught is correct, but doesn't come instinctively to me, sounds stilted and 'put on'- although I always try to remember all those rules when I speak/write to a friend of mine who was my English professor.
I think that's a good point for people who are learning English as a second or 'other' language to remember too - sometimes sticking too closely to the lesser known (and used) rules of grammar sort of 'brands' them as a non-native speaker.