No, you don't
need to install drivers for it, but side-to-side scrolling is not natively supported in Mac OS X -- hence, the need for drivers for that particular function.
Mac OS X has support for up/down scroll wheels, first, second, third, fourth, and fifth mouse buttons -- possibly even sixth and seventh like on some of the new mice. It does not have support for side-to-side scrolling natively. All mice, whether they have more functions than these or not, will be limited to these functions.
The short answer is that I have no idea if the Logitech software or USBOverdrive will provide side-to-side scrolling. This poor guy never got it working:
http://www.mymac.com/showarticle.php?id=2192
It wouldn't hurt to install the Logitech software and see what happens...