What you describe, can be easily done by Keyframing two of the Fixed Effects>Motion>Scale (Zoom) and then Effects>Motion>Position (Pan). In that Motion>Position, you can first Pan, then "hold," then Pan, or Tilt more. You would just Keyframe the X, and possibly the Y Positions, and can alter those operations over time, to alter the speed of the Pan/Tilt.
If you have not yet worked with Keyframing Effects, Steve Grisetti has a very good set of tutorials on Basic Keyframing on Muvipix.com. I highly recommend those, as they really apply to most Effects, that can be Keyframed over time, and not just the Fixed Effects, but many (most?), that can be applied.
Most of Steve's Keyframing tutorials can be found at: http://muvipix.com/products.php?searchphrase=basic+keyframing&btn.x=27&btn.y=10
The general concepts are the same for most recent versions of PrE, but some of the "mechanics" have changed with later versions. Once the general concepts have been grasped, it's only a few specifics of the mechanics (where the controls are located, in that version, that one needs to learn).
Good luck, and hope that helps,
Premiere Elements 10 Pan and Zoom Tool
The Tool starts you off with two frames.
Click on Hold at the top of the second frame and change the Hold time as wanted 00;00;00;00 (hours;minutes;seconds/frames)
Then, click New Frame to generate the third frame for whatever you want to do to it.
See if that works for you.
I did not see Hunt's posts until after I had posted mine.
Yes, you can do what you want with keyframing the position property in Motion Panel and using manual keyframes. But, since your question is specific to the Premiere Elements 10 Pan and Zoom Tool, I would suggest that you can do this with that tool, probably easier.
For your consideration.
Add On...I have road tested this in Premiere Elements 10 Windows Pan and Zoom Tool and it worked for me nicely.
Fantastic. I will give it a shot. Thanks to you both for your great insight!