If you want to zoom and pan an image then Flash should be suitable for the task - just plave the image inside a movieclip/graphic symbol and manipulate the symbol.
You will want to go into the image properties in the library and set the Allow Smoothing to be active.
For clarity sake, the image should be sized to be clear at the closest zoom size, meaning the image is scaled down to start and at its normal size when zoomed in all the way.
Is your target displaying this webcam video from a website via a browser or are you making an application?
The main question is, are you actually using a camera that has servo motors that support tilt/pan/zoom or are you trying to "fake it" like the virtual version. Actually controlling a camera to truely move via camera motors is an order of magnitude more difficult than faking it and if you're new to flash or programming, probably impossible for you. It's very involved.
As for the fake virtual camera, you just point a webcam in a direction and record at the highest resolution possible. You get the full data and take a "small portion" of it and send it back to the client. The zooming and panning is scaling the picture and sending more or less of it. The panning is moving the "small portion" your showing left and right where applicable. This is very easy to achieve as I'm sure you saw the CS4 virtual camera video on youtube.
I've done this quite a bit for kiosks. Both a version using AIR with a native extension controlling an actual camera with motors via its API and also the fake virtual version. If you have any questions feel free to ask something specific.