In Tiger, Leopard, and Snow Leopard, when you used the Zoom with Scroll Wheel function, the screen would move with the mouse staying in the center. This was the default behavior. Now, in Lion, the default has been changed, and the screen will only move when zoomed in when the mouse pointer reaches the edge of the viewing area.
side of screen
Most of us are used to the default method in earlier versions of OS X, where the screen moved to keep the mouse in the center.
center of screen
I had never actually bothered change the Zoom with Scroll Wheel’s options. But now that Lion’s default zoon behavior is unusable to many, changing the behavior is easy.

Mouse Preferences

System Preferences → Mouse

Zoom detail

Change from second option to third option.

By the way, good luck with your Black Friday shopping!