All these people blanket changing the permissions on the /Applications folder. I have to warn that the next time you run 'Repair Permissions' that'll all get changed.
Also, and most importantly, you may find that this causes some problems running some applications, especially if the application in question tries to write back into its own bundle or folder, which while they
shouldn't some DO. Mainly the problems will occur if the folder/application is writable by admin only and you're running the application from a non admin account.
One lot that springs to mind that has problems if the folder it's in has permissions set like that is Microsoft's Office Suite, especially Entourage. I can also see it being a problem for certain GUI front ends for *nix software that have the *nix software contained within them.
Just my tupp'orth
(edit: if you rtfm, you'd know this...

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