Since I don't have a SpaceBall (yet), and even if I did, can anyone tell me if it's possible to set an anchor point by selecting an element in space?

For many of you, this is probably just about the dumbest question ever asked here, but I'm a big fan of twirling the model exactly the way I want, when I want, and I'm struggling with how best to accomplish this in SolidWorks.  Again, I'm a veteran CATIA V4 cad jockey, with some V5 training, and I sorely miss being able to manipulate the view perspective of 3D elements.

Can anyone offer a solution?