Fast zooming and panning using your mouse:
To zoom smoothly, in or out of a document, hold down the Option key (marked 'alt' on some keyboards) and use your mouse scroll wheel. The zoom is centered on the mouse location.
To pan smoothly around a document, i.e. move your field of view in any direction, use Option-drag. This is generally quicker than using the scroll bars.
To zoom to the current shape selection (in or out), use Option-double click.