Well,
normally, there is no point in restricting the outgoing ports of the machine, only the incoming ones.
When you try to establish a connection to port 110 on a remote machine, the kernels task is to assign a local port that will recieve data on this connection. These ports are, unless you have made modifications to the kernel, above 1024. So if 1025 is free, it'll most likely be used. If not, increment by one and retry, etc.
So, don't block outgoing traffic on any ports, and the problem will most likely be solved. I can't really see any good reason to block them anyway, unless you're attempting to prevent all sorts of tcp traffic from this machine.
Hint, try 'netstat -an' (without the quotes) as root, and you'll see what ports are used locally and remotely on connections. However, nothing will (obviously) show up here if the connection is killed by ipchains (or, maybe with a WAIT flag, I'm not quite sure).
Hope it helped.