postgresql source build instructions for ubuntu 7.04

The INSTALL file for postgresql 8.3rc1 lists the following install
instructions:

./configure
gmake
su
gmake install
adduser postgres
mkdir /usr/local/pgsql/data
chown postgres /usr/local/pgsql/data
su - postgres
/usr/local/pgsql/bin/initdb -D /usr/local/pgsql/data
/usr/local/pgsql/bin/postgres -D /usr/local/pgsql/data >logfile 2>&1 &
/usr/local/pgsql/bin/createdb test
/usr/local/pgsql/bin/psql test

I get to the 4th step and see I need gmake. I use make instead.
Things seem ok.

Then all is well, until line 10: /usr/local/pgsql/bin/initdb -D /usr/
local/pgsql/data
The bin directory is not accessible to anyone but root due to the
permissions of the install. Should I have used a different umask for
the make/install process?

As I'm new to pg, what should I change the permissions to? Should I
make the entire bin directory executable by anyone?

Does anyone have experience with installing from source on ubuntu
7.04?

thanks, Jon