[Gray] introduced the ACD properties for a transaction in 1981. In 1983 [Haerder] added the Isolation property. In my opinion, the ACD properties would be have a more useful set of properties to discuss. One interpretation of Atomicity (that the transaction should be atomic as seen from any client any time) would actually imply the isolation property. The "isolation" property is useful when the transaction is not isolated; when the isolation property is relaxed. In ANSI SQL speak: if the isolation level is weaker then SERIALIZABLE. But when the isolation level is SERIALIZABLE, the isolation property is not really of interest.
I have written more about this in a blog post: "ACID Does Not Make Sense".
http://blog.franslundberg.com/2013/12/acid-does-not-make-sense.html
[Gray] The Transaction Concept, Jim Gray, 1981. http://research.microsoft.com/en-us/um/people/gray/papers/theTransactionConcept.pdf
[Haerder] Principles of Transaction-Oriented Database Recovery, Haerder and Reuter, 1983. http://www.stanford.edu/class/cs340v/papers/recovery.pdf