[X-Unix] Is it possible to set unique umask for folder?

[Simon Forster]

We have some files being saved to a directory (by the Finder IIRC). 
These files have default permissions of 755 - which is Mac OS X's 
default from what I can gather. What we'd like is that files saved to 
this particular directory have universal read and write privileges 
(777). For fairly obvious reasons, we'd prefer not to change the system 
wide defaults, just the mode for this one directory.

Is this possible? Can one have a directory specific umask?

I can write a cron script to change permissions every 30 minutes. I 
imagine I can write a folder action script which'll run a chmod when 
something's added to the folder - and presumably I can write a shell 
(or Python) script to do a similar task. However, these options seem 
inelegant as they're fixing the problem after the event.

I've had a look around and have learnt a reasonable amount about 
permissions and umasks - but I haven't found a direct answer to this 
(simple) question.

TIA for any hints, tips and references.

Simon Forster
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