@Keith Driscoll is right in that it isn't so much a numeric permissions issue as it is an ownership issue in this case.
If it's a localhost installation just for development and not exposed to the WAN, you'll be fine, but if this is a live site, you may really want to consider whether or not having all of your files owned and writable by the web server user is something you really want to do.
It might be worth doing some additional investigation. Just a suggestion, mind you.. you're free to do as you like of course. :-)
I set all my files to permission 777 and it still asks for FTP info. How can I allow wordpress to directly access the files?
A little more in depth discussion on that topic, if you're interested.
WordPress Filesystem Abstraction FAQ