i thought so to when i first tested the beta. but you can just drag beside the actual calendar... just drag. it's bad interface design, i think, but once you know it, it's cool.
You can scroll but the display isn't configured for it defaultly. YOu'll need to go into the prefs and set the start and end times for the day. below that you'll see an option that will alow you to change how many hours are displayed at a time. I have mine set to day starts at 12:00 AM and ends at 12:00 AM, and to display 15 hours at a time. I have a scroll bar on the edge of my screen and I'm able to scroll through the rest of the day.
Here is somthing that bugs me. I go to school throught the day and work at night. And I sometimes work like a shiftr from 3am to 3pm, and when I am blocking that into iCal it will not let me block from one day to the next. Arg!! I am sure it can be done but I can't figure it out.