Installing Homebrew on Lion

I am trying to install Homebrew on Lion but keep getting an error.

$ /usr/bin/ruby -e "$(curl -fsSL https://raw.github.com/gist/323731)"

I run the above code, which results in:

==> This script will install:
/usr/local/bin/brew
/usr/local/Library/Formula/...
/usr/local/Library/Homebrew/...

Press enter to continue
==> /usr/bin/sudo /bin/chmod o+w /usr/local
==> Downloading and Installing Homebrew...
bin/brew: Can't create 'bin/brew'
tar: Error exit delayed from previous errors.
Failed during: /bin/bash -o pipefail -c '/usr/bin/curl -sSfL https://github.com/mxcl/homebrew/tarball/master | /usr/bin/tar xz -m --strip 1'
==> /usr/bin/sudo /bin/chmod o-w /usr/local

I have seen a couple of 'answers' to this problem which basically suggest running the initial command as root. This fails with the following error:

$ sudo /usr/bin/ruby -e "$(curl -fsSL https://raw.github.com/gist/323731)"
Don't run this as root!

Any suggestions would be appreciated!

As per this question I ran the following command:

sudo chown -R `whoami` /usr/local

And then re-ran the homebrew command:

$ /usr/bin/ruby -e "$(curl -fsSL https://raw.github.com/gist/323731)"
==> This script will install:
/usr/local/bin/brew
/usr/local/Library/Formula/...
/usr/local/Library/Homebrew/...

Press enter to continue
==> /usr/bin/sudo /bin/chmod o+w /usr/local
==> Downloading and Installing Homebrew...
==> /usr/bin/sudo /bin/chmod o-w /usr/local
==> Installation successful!
Now type: brew help

I hope this helps someone in future!