Herb Sutter mentions in one of his http://www.gotw.ca articles that an object is constructed(has valid existence) only if the constructor executes completes.ie to put it in
By the time program flow enters your constructor, the object's memory has been allocated and the this pointer is indeed valid.
What Herb means, is that the object's state may not have entirely initialized. In particular, if you are constructing a class derived from A, then that class' constructor will not have been called while you are still inside A's constructor.
This is important if you have virtual member functions, since any virtual function in the derived class will not be run if called from within A's constructor.