Here's an update...
I have had luck using ACLs to supplement POSIX permissions, mostly to get the inheritance provided by same.
This is my procedure...
For a share point with read/write access to everyone (although the owner and group entries can be different):
owner - root, read & write
group - admin, read & write
everyone - read & write
ACL entry for "Users" (staff, GID 20) can: do all Read, do all Write, Inheritance to all descendants
Thus, all registered users (staff) get inherited read & write via the one ACL entry.
Also, the group Everyone (GID 12) and Authenticated Users (GID 37) are useful when creating ACL entries to mimic the everyone POSIX access level. These groups may be more powerful than staff, because if you change one user's primary group from staff to something else (and don't make that user a member of the staff group), staff no longer represents "all users". In POSIX access, staff is usually a primary group for all standard users except guests and system service users. (However, 10.3 client 10.4 client generate a new group for each new user: primary group gerrit corresponds to user gerrit.) Perhaps Authenticated Users and Everyone are "smart groups"... anyone have any experience with them?
This works fine, with these observations:
1. Tiger clients will show ACL information in their Finder Info windows when users mount the volume via Connect to Server.
2. Panther clients and Tiger clients that mount the share point via an automount record will show fake POSIX information in their Info windows. Access still respects the ACLs, though.
Often an example file appears to have received default umask permissions (755 for folders, 644 for files) but the owner appears to change (from the client's perspective) to match the user who has connected. In the Finder's Info windows, you may see "nobody" is the owner, but an "ls -l" in the Terminal will show the connected user as the owner.
It appears to be a side effect of the ACLs, although Finder Info windows should show when ACLs are used instead of an incorrect owner.
3. For automounts, both Tiger and Panther clients will mount via Guest access then switch access to the currently logged in user. Open Terminal and type mount to see which user is listed for the automounts. (Server Admin may still list <Guest> for static automounts.)
The only exception that I've found is the /Network/Library in Tiger clients. The user that appears to always mount that is security_agent, not the current user, which was the case in Panther. (Still, Server Admin shows <Guest>.) This is important if you want inheritance on some /Network/Library items, as we now have to know the user or group to specify inheritance like an access mode (instead of a permissions model.)