It cares. Please post a log file.
Sorry for beeing stubborn but I made the test again from another computer (see the log file). In the first case, I have Set Permissions unchecked (but you can see the permissions "below" set at 644). In the second case, I have Set Permissions checked (and permissions set to 644). In both cases, umask is 002.
You will find the log file at <invalid link removed>. It was to long to post here, in my opinion.
For me 'umask' works if I set it in '.bashrc'.
For me too, as well as in .bash_profile (according to the termial window) but to no avail.