I found the following links helpful

http://www.thinkwiki.org/wiki/How_to_configure_the_TrackPoint#TrackPoint_under_Xorg-7.4.2B_using_HAL

http://psung.blogspot.com/2008/09/scrolling-with-thinkpads-trackpoint-in.html (best)

https://wiki.ubuntu.com/X/Config/Input

https://bugs.launchpad.net/ubuntu/+source/xserver-xorg-input-evdev/+bug/292047?comments=all

The main step is to create a new file called /etc/hal/fdi/policy/mouse-wheel.fdi with the following contents:

<match key="info.product" string="TPPS/2 IBM TrackPoint">
 <merge key="input.x11_options.EmulateWheel" type="string">true</merge>
 <merge key="input.x11_options.EmulateWheelButton" type="string">2</merge>
 <merge key="input.x11_options.XAxisMapping" type="string">6 7</merge>
 <merge key="input.x11_options.YAxisMapping" type="string">4 5</merge>
 <merge key="input.x11_options.ZAxisMapping" type="string">4 5</merge>
 <merge key="input.x11_options.Emulate3Buttons" type="string">true</merge>
</match>

These instructions apply for Ubuntu Jaunty (9.04) and Intrepid (8.10).

The above is based on code from Michael Vogt and adapted to support both vertical and horizontal scrolling. See http://mvogt.wordpress.com/2008/08/15/xorg-evdev-and-emulatewheel/

To adjust mouse pointer movement speed, type the following into a terminal:

    # echo -n 120 > /sys/devices/platform/i8042/serio0/serio2/speed 

When you are happy with the settings, add these lines into /etc/rc.local to persist settings:

echo -n 160 > /sys/devices/platform/i8042/serio1/serio2/speed
echo -n 255 > /sys/devices/platform/i8042/serio1/serio2/sensitivity
echo -n   7 > /sys/devices/platform/i8042/serio1/serio2/inertia

Use your own values, of course.

FYI, Configure-trackpoint is a Gnome TrackPoint configuration tool written by Cheuksan Edward Wang. However, it DOES NOT WORK on amd64. The above steps take care of the configuration on amd64 versions of Ubuntu.