Yes, I think I am the one who is confused, which is not surprising. Where I became muddled was that I looked up the formulas in the 8th edition of AISC, which was allowable stress design, but forgot that composite design at that stage used USD approaches to agree with ACI.
You guys made me doubt, so I looked it up in S&J, 2nd Edition, which says:
"It may be noted that the connection and the beam must resist the same ultimate load. However, under service loads the beam resists dead and live loads, but unless shores are used the connectors resist essentially only the live load. Working stress method might design the connection only for live load; however, an increased factor of safety should be used, since ultimate capacity would otherwise be inadequate.
AISC-1.11 uses an ultimate strength concept but converts both the forces to be designed for and the connector capacities into the service load range by dividing them by a factor. The loads to be carried, either Eq. 16.8.2 or Eq. 16.8.3, are divided by a nominal factor of 2."
S&J goes on to say that the "connector ultimate capacities must also be divided by factors to give "allowable values" for working stress method." This factor is also about 2.0.
Requires a bit of reading to get your head around it.