Feature run-sbcl.sh/rlwrap interaction
will make the script ("~/bin/sbcl"):
exec rlwrap -Csbcl run-sbcl $@
work as expected. Otherwise none of the line-editing functionality works correctly.
Both execs are necessary for rlwrap to not get confused about which process is in control of the terminal. That the scripts don't work without the execs can't be tested from the command line (at least, not from the bash command line); from the command line, "rlwrap run-sbcl.sh" works just fine.
With the change, invoking rlwrap from either a command line or from a script works correctly.
Linux ubuntu 3.5.0-40-generic #62-Ubuntu SMP Thu Aug 22 00:55:19 UTC 2013 x86_64 x86_64 x86_64 GNU/Linux
(:ALIEN-CALLBACKS :ANSI-CL :ASH-RIGHT-VOPS :C-STACK-
:FLOAT-EQL-VOPS :GENCGC :IEEE-FLOATING-
:LINKAGE-TABLE :LINUX :LITTLE-ENDIAN :MEMORY-
:SB-DOC :SB-EVAL :SB-FUTEX :SB-LDB :SB-PACKAGE-LOCKS :SB-SIMD-PACK