I have always usually done this, but also remapped the trackpad to be entirely a "scrollpad"
Yep, and you can also click and release the middle mouse button, then separately mouse up or down. Interestingly, I have only been able to get either this OR the press then scroll behavior you described working on Windows (by toggling a setting), but in Linux you can have both enabled at the same time.
I would tap and drag for little and precise movements, swipe for fast movements, and press the button for default movement. With some training, it can become pretty natural.
I do use a tiling window manager and bindings like Vrome/Vimperator, so my use case is probably atypical. My mouse usage is limited to when I deem it absolutely necessary; I hate physical/mental context switching, and bringing my hand from keyboard to TrackPad/mouse/whatever is a huge context switch.
I would use it so much more if it was between H and J.
How do you stretch your finger towards the middle of the keyboard with no issue? Stretching just to type a letter is fine for me (think Y, H or B), but staying on the TrackPoint is hard.
Possibly a shocking statement here but I went from a top end 2010 MBP to a 2009 T400 running windows 7 and am much happier as a whole, even though I have my head in UNIX machines a lot.