Slow bluetooth mouse tracking speed

I'm using a Microsoft Presenter 8000 Bluetooth mouse on my Macbook Pro. I use the Microsoft Intellimouse software so I can map my side buttons and because I can't stand OS X's mouse acceleration with an actual mouse. I have the mouse tracking speed maxed out but the tracking or pointer speed is too slow for me. I upgraded the intellipoint software to mac version 6.2.2 (released on december 17th, 2007). The device is detected and "connected" but not shown as paired at the bluetooth hardware preferences menu. When the dongle is inserted in a USB port, it doesn't make a difference.

I also noted something strange: when the mouse is all set up and "working", I go straight to the keyboard and mouse hardware preferences menu and modify the tracking speed to about the fourth of fifth line and it works just fine! However when I close this menu and go back to work with any other application, the tracking speed returns to its sluggish movement.

I tried connecting a friend's Microsoft bluetooth notebook mouse 5000, and the bluetooth preferences menu shows it as both paired and connected - and the tracking speed works fine for me. But I bought this expensive 8000 presenter model only to find myself disappointed.

I wonder if this is related to the "connected but not paired" issue? How can this be resolved?