This really annoyed me a lot after I installed and configured Panther. In almost all browsers and long text windows, the scroll wheel was a pain to use. Lines wouldn´t scroll smoothly, but rather jump five or more lines at a time. I figured that it might be related to the fact that I had enabled the "smooth scrolling" option in Appearance. After I turned it off, everything was fine again. I think that was because I don't have Quartz Extreme. I´ve heard from another user with QE that it worked nicely when he enabled it. So if you don't have QE, you may not want to enable the smooth scrolling option.
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