arXiv:2610.11987v1 Announce Type: new Abstract: Pinching-antenna (PA) systems provide spatial reconfigurability for integrated sensing and communication (ISAC) through controllable radiation locations along dielectric waveguides. This paper investigates a dual-waveguide PA-assisted ISAC system in which the communication user also serves as the sensing target, coupling the communication and sensing links through a common user/target geometry. Spatially separated transmit and receive waveguides provide separate spatial control over the forward and return sensing paths. We jointly optimize the transmit and receive PA positions and transmit power to maximize the aggregate communication rate subject to minimum sensing-SNR and two-dimensional localization Cramer-Rao bound (CRB) requirements, along with power, energy, and deployment constraints. To solve the resulting non-convex problem, we develop an alternating optimization algorithm that combines a bounded water-filling power update with a proximal first-order joint PA-position update. Numerical results show that the proposed design achieves higher communication rates than the considered benchmarks, with more pronounced gains under stringent localization requirements.