I'm not sure if there is going to be zooming or not, but I had an idea that sort of involved that. As we know, the backgrounds in PE are going to be prerendered and our models are going to be 3D. However, the prerendered backgrounds are going to be first modeled in 3D. That allows the artists to play with changing the perspectives whenever we are in "smaller rooms." I believe JSawyer talked about changing the angles shown whenever the party would be in a building, but I think this can be taken further. Imagine this tomb (and many similar "small rooms" in BG2.)
Now imagine if the camera was changed, and the room was zoomed in. The room would feel a lot bigger, and more could be done within the room. Imagine that you could search a corner of the room. You could change the feel of the experience, by just changing the angling and the zooming of the camera.You can see the tomb and the lich that comes out of it a little better. That can make for a more terrifying experience. It's more up-close and personal.
Of course, it would still be isometric and not 1st person.
Now, perhaps the narrative sequence requires a more "close" feel. Perhaps, an NPC is sharing a secret with you in this room. But now you can see the room a little better. Imagine how the atmosphere of this room could be changed just by zooming in a little and changing the angle of the camera. Imagine meeting in a small room, lit only by a singular candle. Your party shifting in their gear and a singular individual talking to you by that candle-light.
"Coo! Changes the atmosphere quick as ye blink!"