But one exception is, if you log in as sharepoint farm account or application pool id account, even though both accounts are marked as "System Account" and have access to absolute everything, it seems SSRS is not aware of them. You will get the following error when trying to view reports from sharepoint:
[update] this problem only occurs to sharepoint 2007 when kerberos is enabled for both sharepoint and RS, and data connectin uses window authentication. Sharepoint 2010 has this problem fixed.
The permissions granted to user 'SP\spFarm' are insufficient for performing this operation. ---> Microsoft.ReportingServices.Diagnostics.Utilities.AccessDeniedException: The permissions granted to user 'SP\spFarm' are insufficient for performing this operation.
The workaround is to add them explicitly in site or library, and the problem is gone.