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It's crutial that it zooms in, right where the cursor points!

Sure. I just don't have a wheel mouse otherwise I would have fixed this long ago.

How do you survive?

Tablet + pen :)

Actually, the funny thing is that I did put in the code for mousewheel to zoom into cursor point, and I have no idea why it does not work. It's very simple, see the sp_desktop_zoom_relative_keep_point() call in src/event-context.cpp line 517. The same function works OK for zooming by middle-click (see line 380), it does zoom into cursor point. Maybe the event->scroll.x/y fields are bogus for a wheel event. If someone can have a look at it for me that would be nice.