That's right: a) you don't get scroll events until the scroll has finished, b) you do get touch events that drive the scroll (but nothing during the inertial part), c) the appearance of the page is not updated until the scroll has finished.

You can get around this by using programmatic scrolling (e.g., iScroll, zynga-scroller) but you'll never get quite as nice scrolling as with the native behaviour.