I would assume the better programs implement some velocity control, turning it quickly will cause it to increment in larger steps, turning it slowly will increment single steps. This is how I have done it in the past when I have used the scroll ring on my trackball in PureData.

I would also assume there are detent free mousewheels with a far greater number of steps, there used to be. The scroll ring on my trackball is detent free and quite fine but it is also ~2" in diameter, considerably larger than the wheel on any mouse.