CentOS 6.3 Minimal Configuration. Installed SSH Server, port 22. All works correctly. I change port 22 on 777 and restart sshd and see in logs:
Jul 26 01:01:07 myserver sshd[1590]: error: Bind to port 777 on 0.0.0.0 failed: Permission denied.
Jul 26 01:01:07 myserver sshd[1590]: error: Bind to port 777 on :: failed: Permission denied.
Jul 26 01:01:07 myserver sshd[1590]: fatal: Cannot bind any address.
/etc/sysconfig/iptables contains:
-A INPUT -m state --state NEW -m tcp -p tcp --dport 777 -j ACCEPT
netstat -tulpn | grep :22 and netstat -tulpn | grep :777 return nothing