Hold H to momentarily activate the Hand tool, move the timeline around, let go of H to return to the previous tool.
Same action for the Zoom tool.
At the present time, you have to reselect the tool when you're done moving around.
HUGE advantage for those of us who use Wacmon tablets and don't have a scroll wheel, as there is no other way to easily move in the timeline. The only way to achieve it with my Wacom, is to hold my top button and scroll the pen up & down - left & right doesn't function in Premiere. And it only registers for the portion of the screen that the timeline window takes up.
Also the same way it functions in Photoshop, it's a very natural way to interface with the application.