Thanks for the detailed description of the issue. This is a bug not cause by the fact you are connecting with IAM credentials but are using the DNS hostname to specify what bucket to connect to with `mybucketname.s3.amazonaws.com`.
A workaround would be to let the IAM user list the buckets in the account and connect to the regular S3 hostname.
The next snapshot build available in a few minutes fixes this issue.
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David
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