unintuitive bracketing with return value

[Ray Andrews <rayandrews@eastlink.ca>]

I vaguely remember mentioning this before but I don't recall what the 
understanding should be:

[ "${${1}##*[*?]*}" ] && {
echo "no wildcards"; printenv "$1" } || echo wildcards present

... I'm obviously testing for the presence of wildcards before sending 
"$1" to 'printenv', unfortunately the '||' responds to the return value 
of 'printenv' and not, as I intend, for the '||' to respond to the first 
test (presence of wildcards).  If it was not bracketed there would be no 
issue of course, but shouldn't the brackets do the intuitive thing and  
force the final '||' to be the alternative to the first '&&'?  It's easy 
to just write the thing as an 'if/else' statement and avoid the issue, 
but still the above seems very counter intuitive.  ... Tho of course one 
could get used to it and prefer it that way but still it seems weird.