X11 supports that type of scrolling on my Eee running Arch (I don't remember if it was there by default or if I had to turn it on, though), albeit only vertically. Note that the Eee's trackpad doesn't have multitouch; thus, I see no reason that this couldn't manage it. Of course, I don't use it much, because the trackpad is a bit too small for it to be useful, but still.