At least this looks like a better solution than their previous "move to
an obsolete mouse  driver" solution.

I've been using a little program called VBScroll. It's easy to install and
works well, but needs to run in the background. This MS link might provide
a tidier solution.

Thanks for this one. I find it a bit erratic in its movements (well, it
seems to scroll  by pages rather than 3 lines) but it is a great improvement.

It work fine here scrolling one line at a time.

I do have a Microsoft scroll  mouse so maybe that's why it works.

I did try messing around with the scroll speed in control panel which does make
a difference.

Try setting it to the lowest value.

have a look at VBScroll - http://www.gasanov.net/VBScroll.asp - which
allows you to control the amount of scroll. I find it most comfortable when
set to "1 lines at [a] time"

This is actually better in that you can configure it more easily.

Anything to make life easier.

Why didn't the might MS not include it as part of excel?

I find this thread "curious".
I've got a old IBM optical scoll mouse.
When I installed it, I went into the mouse  icon on the Control Panel,
went to the "wheel" tab and changed it to (1) line at a time.
I've been using it in the VBE editor for SEVERAL years, and never knew there
was ever any other way!

Yep. It's a new "feature".

IIRC Previously, the Microsoft "solution" to this problem had been to back
out the mouse  driver to an old level - quite possibly the one you're using
now.