Ubuntu – how to set the mouse speed very low on ubuntu

mouseUbuntuubuntu-9.04xorg

I set the mouse acceleration and sensitivity levels to minimum in System->Preferences->Mouse but with the new mouse I have, even those settings are too fast. Is there a way to further reduce the speed? The resolution of the mouse seems to be much higher than needed. Is there a way to reduce that?. The mouse is an Okano A1020 Laser Mouse.
lsusb -v says the following:

    Bus 006 Device 002: ID 12cf:0047  
Device Descriptor:
  bLength                18
  bDescriptorType         1
  bcdUSB               1.10
  bDeviceClass            0 (Defined at Interface level)
  bDeviceSubClass         0 
  bDeviceProtocol         0 
  bMaxPacketSize0         8
  idVendor           0x12cf 
  idProduct          0x0047 
  bcdDevice           51.04
  iManufacturer           1 MouseCenter
  iProduct                2 LASER Mouse
  iSerial                 0 
  bNumConfigurations      1
  Configuration Descriptor:
    bLength                 9
    bDescriptorType         2
    wTotalLength           34
    bNumInterfaces          1
    bConfigurationValue     1
    iConfiguration          0 
    bmAttributes         0xa0
      (Bus Powered)
      Remote Wakeup
    MaxPower              100mA
    Interface Descriptor:
      bLength                 9
      bDescriptorType         4
      bInterfaceNumber        0
      bAlternateSetting       0
      bNumEndpoints           1
      bInterfaceClass         3 Human Interface Device
      bInterfaceSubClass      1 Boot Interface Subclass
      bInterfaceProtocol      2 Mouse
      iInterface              0 
        HID Device Descriptor:
          bLength                 9
          bDescriptorType        33
          bcdHID               1.11
          bCountryCode            0 Not supported
          bNumDescriptors         1
          bDescriptorType        34 Report
          wDescriptorLength      46
         Report Descriptors: 
           ** UNAVAILABLE **
      Endpoint Descriptor:
        bLength                 7
        bDescriptorType         5
        bEndpointAddress     0x81  EP 1 IN
        bmAttributes            3
          Transfer Type            Interrupt
          Synch Type               None
          Usage Type               Data
        wMaxPacketSize     0x0008  1x 8 bytes
        bInterval              10
Device Status:     0x0000
  (Bus Powered)

EDIT: In the meantime, I tried xset m 0 0, which didn't improve anything either, the mouse stayed at the same speed.

another edit: Thanks for asking, I didn't notice this earlier. The acceleration setting does have an effect, but the sensitivity setting does not.
Also, I double checked the company name and model, and it is correct as stated.

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