Agreed, that's annoying. I couldn't find an easy way to separate horizontal scroll event from vertical. But it's something I really want to fix...
The pinch to zoom would work fine, but Safari intercepts this. Modifier key+scrolling to zoom would be fine as well, but not so discoverable. Apple should add some of the iOS multitouch events to Safari, but it's not a good fit since there's really only one visible pointer in OS X. Google Maps would really benefit from this.