How to create a common ext4 [ read / write ] partition with all ubuntu users?

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http://askubuntu.com – I have a shared EXT4 drive with 777 permissions for all users to use. Problem is : When a user creates a new folder / file, it gets 644. I guess that is because of the umask for that user. Now, I want to have all the new content with 777. For that I don't think editing the umask is good idea. Then I tried the sticky bit, but in case of sticky bit only the user who created that file has the permission to delete the file. Again undesired behavior. Then I tried, to use acl permissions on that. But on gogoling I got to know that acl is not recursive, therefore the permissions would be lost on (HowTos)