Multi-Touch support on Mac laptops
Pinch, swipe, and rotate images using the Multi-Touch trackpad on MacBook Pro and MacBook Air laptops (requires Mac OS X v10.5 or later). Easily turn off Multi-Touch support if you wish.
So, I am assuming you are using trackpad on Macbook?
i have a mbpro, but I believe the magic trackpad that you can purchase separately is working as good.
it's a same piece of hardware, except larger.
oh and by the way, photoshop cs6 should support wacom's touch features too, as far as I know it works with intuos 5 on mac and wacom are using their own touch toolset.
you should probably get a cs6 demo from adobe's website and play with it. cs5 for windows might not support it though.
I now see that you have cs5, but you haven't specified your OS.
I love panning through canvas with my fingertips, it's awesome. not so awesome for canvas rotation and or/zoom, though. they feel a tad sluggish.
but I opted for no-touch intuos 5 so my touch area and drawing area are spaced out and I don't have occasional touches and stuff like that. (I currently hate corel for not including apple touch support, because once you get rid of that habit of holding space while panning you'll never want to come back. I have space mapped to stilus key, and it still feels annoying.)
try minimizing pointer acceleration and see it that helps...
it might be wacom's touch support being clumsy too (one of reasons I was staying away from touch-enabled intuos 5)
I hope someone else here is using a similar set-up so they can contribute too. or maybe try searching/cross-posting at http://forum.wacom.eu/ so you can have more input.
The default touch functions are kinda laggy. I haven't really found a way around it. In Painter 12.2 they did improve on the gestures, roatation, scrolling is much faster, and they got it right by having a "return to home" with a double tap.
You have to be more deliberate with your touch on the tablet which is something I still haven't gotten used to - where something like iOS it seems more natural (though it's not without its problems).
I don't mind general navigating with my hand since it is in mouse mode (I remember this being a complaint for people who couldn't be assed to set up their OS navigation to mouse mode or wanted both modes accessible ) but yeah...gestures...not quite there. I know people don't mind it or got used to it, but having an Android smartphone and other iOS devices...Wacom's needs some work.