That is, providing that container is not empty, can I safely do this:
std::vector<int> container;
container.push_back( 0xFACE8D );
auto last = container.end() - 1;
and this:
EDIT: replaced -1 with -- here: 
std::list<int> container;
container.insert( 0xFACE8D );
auto last = container.end();
--last;
and again for arbitrary non-empty container?
EDIT: let me clarify the question.
Sometimes perfectly legal code behaves incorrectly. The question is: assuming that the above code compiles, is it safe to do something like that?
It should be safe for ordinary C-style arrays because the corresponding iterators are just pointers. But is it safe for more complicated containers?
Suppose that one implements list with iterators like this one:
class MyListIterator {
    MyListIterator *prev, *next;
    MyListIterator * operator--() { return prev; }
    ...
};
class MyList {
    MyListIterator *end() { return NULL; }
    ...
}; 
Then an attempt to decrement container::end(), despite being perfectly legal syntactically, would cause a segfault. 
I hope, though, that stl containers are much smarter than that. Thus the question on the guarantees on the above stl::list code behavior, if any.
std::vector returns random-access iterators, so yes, this is safe with vector.
std::list returns bidirectional iterators. They can be incremented (++) and decremented (--), but don't allow for arbitrary arithmetic (+, -) or relative comparisons (>, <). It's not safe with list.
You can use std::advance on bidirectional iterators to advance or rewind arbitrary amounts. In C++11 you can use std::prev in place of iter - 1.
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