Hi there,
The ACL is read from the top of the config to the bottom of the config.
So, assuming that you have posted the lines in the order they are in within the config, andto answer your question: it would permit all IP traffic.
It would permit all IP traffic because the pix would search through the ACL and reach the permit line before it reaches the deny line. When it reaches a matching ACL statement, it stops looking.
So if the two lines were reversed, ie
access-list Outside deny ip any any
access-list Outside permit ip any any
The pix would match on the deny statement and consequently all IP traffic would be dropped.
I hope that helps you out a bit :) If it does, can you please rate the answer?
Brad