If-match clarification

Hi,
The description of If-match describes two possible situations, but those 
are not all that could occur:

1) If all etags in If-Match match, or If-Match * is used and the entity 
exists then normal processing occurs.

2) If any etags in If-Match do not match, or If-Match * is used and the 
entity does not exist, then 412 must be returned.

But what about the case of an etag provided in If-Match against a resource 
that no longer exists? Should the server return 404 or 412?

-- 
Cyrus Daboo