My new Dell XPS laptop is a sweet machine, but the Synaptics drivers didn't have the ability to emulate a middle mouse button functionality by clicking the left and right button on the touchpad.
However, if you add a new key to the registry, then you get that functionality. Copy the following into a .reg file:
Windows Registry Editor Version 5.00
[HKEY_CURRENT_USER\Software\Synaptics\SynTP\TouchPadPS2]
"HasBothButtonFeature"=dword:00000001
Log off and back on, and you should have the middle mouse button functionality again. I really don't get why Synaptics keep removing/hiding this feature (My HP work laptop had the same issue fixed it there too).