Basically this has to do with non-suphp systems will write something (like a language file for instance) as owner "nobody" when using an apache handler (correct me here if I'm wrong DD, still learning alot of the server stuff) and will not write the file in the correct directory without a trip 7 CHMOD.
Now, suphp sets the owner as the server or something like that when using apache (again, you know more about this than I do) and thus this is why an suphp system will run correct in 755 and does not even allow a trip 7.
I'm pretty sure that's the very basic answer to his question, but feel free to elaborate on it more and correct me where I'm wrong there. As I said, still learning the servers part of this stuff.
***Edit: To answer more of his question, read below:
As far as some of the folders go, the reason for Trip 7 or 755 is so that when a member uploads an image, video or whatever to the site it can be saved to the directory, without the permissions then that specific upload would not happen, profiles would not be created, e-mails would not be sent and so on and so forth as nothing would be able to be saved.
To go even further, let's say you set the file perms to QUAD 0 (Yes, that's 4 zeros and you can do that) then nothing on the site would be accessible to ANYONE at all as it wouldn't even have readable capabilities.