Leave it as 777 although running
Code:
chmod +t /tmp
is a good idea this adds the sticky bit to the directory which on linux prevents anyone that isn't the owner or root from deleting it (the owner should be root).
This is what your permissions should look like
Code:
ls -lhd /tmp
drwxrwxrwt 4 root root 4.0K 2011-11-25 06:55 /tmp
Some people also like to put /tmp in a separate partition, this stops any rogue processes from filling up the drive, you can also set the noexec and nosuid mount options for a little extra protection thought I wouldn't recommend those unless you know what you're doing they can break package managers (especially cpan for perl)
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