02-21-09: Ngjockey
According to code, the ground is not isolated by the iso and is continuous. The positive and negative are isolated.
And just to add....
For isolation transformers less than 2 KVA, if memory serves me right on the size, the safety equipment grounding conductor from the wall outlet can be used to connect one of secondary winding legs to ground. This grounded conductor, known as the neutral conductor. This connection also becomes the connection for the receptacle/s equipment grounds. A separately derived power system, (an iso transformer), shall have its secondary wired as an AC grounded power system.
In other words the secondary of the transformer can not float. It must have a direct reference to ground.