You can, I did... First you have to make sure to calibrate the slider in game (like you do with the joy stick), then set it. I'm at work, so can't remember the exact setting, but it does work. The name of the setting makes sense, so just look around.
I set it to one of the wheels on my X52, it seemed to have more fine adjustment than the slider on the throttle.
ON EDIT... Just found the setting in another post, it's gunsight range increase/decrease...
So it is. Thanks for the tip! There's also field of view, which controls zoom in/out - is that new? I don't remember seeing it before. Oddly enough, as I discovered accidentally, that only seems to work for certain view modes.
Say the "W" key for "Flight" is mapped to "Auto-Level" ... you can map the "W" key for "Accelerate" for "Vehicle".
Whatever button you have programmed to send "W" to AH, will always send "W", but AH sees what "mode" you are in and then looks at the key mapping to determine what to do.
That works fine for programming buttons, but the problem would be programming your stick, pedals, or throttle to, in effect, press a key. Yes, you could use AH programming to program that key back to the original function in flight mode, but you'd lose the ability to use it as an analog control, which would be a HUGE loss for flying - essentially, your joystick would be on/off like the old, old Atari or arcade joysticks, you wouldn't be able to distinguish between a gentle nudge of of right stick/rudder/etc. and jamming the stick all the way over. I don't think the game would be playable that way.
I haven't messed with the Saitek modes yet, that may be the way to go for people who really want to use joysticks for GV control. But for now I'm reasonably happy using hat switches, and for the reason stated above you wouldn't get any finer control using joystick and rudder since the game no longer supports analog inputs for those functions in GVs.