Now that this has been mentioned, I must admit scrollwheeling larger lists can be a bit tedious and even tolling for wrists at times.
PgUp/PgDown seems like a good solution. No preference whether a button just does one scroll, or there would be behaviour for holding it down.
An alternative approach might be holding down some keyboard button + scrollwheel would scroll whole screen at a time, instead of one entry at a time. This would be in line with some other such keyboard + mouse combinations.