Hand tool for moving around

Is there a way to use something like a Hand tool in other apps? I find that scrolling with my Magic Mouse is stressful and hard to get to where i want; I usually overshoot by a mile, then have to scroll back down or horizontally to find where I was. Is this considered a feature request?

btw, a little trick I use is to use my Wacom pen and set one of the buttons as the hand tool so I can do that, but was wondering if I could do that with the regular mouse as well.

I use my middle mouse button (on the tablet too).