I have an IBM T23 using both internal "knob" and external USB mouse simultaneously. Try editing your xorg.conf silmilar like this example.
Section "ServerLayout"
Identifier "XFree86 Configured"
Screen 0 "Screen0" 0 0
InputDevice "Mouse0" "CorePointer"
InputDevice "Mouse1" "SendCoreEvents"
InputDevice "Keyboard0" "CoreKeyboard"
EndSection
...
# This is the TrackPoint
Section "InputDevice"
Identifier "Mouse0"
Driver "mouse"
Option "Device" "/dev/psaux"
Option "Protocol" "PS/2"
Option "Emulate3Buttons" "no"
Option "ZAxisMapping" "4 5"
EndSection
# This is the USB mouse
Section "InputDevice"
Identifier "Mouse1"
Driver "mouse"
Option "Device" "/dev/input/mice"
Option "Protocol" "IMPS/2"
Option "Emulate3Buttons" "no"
Option "ZAxisMapping" "4 5"
EndSection
Everything is taken from
http://www.math.uakron.edu/~chad/linux_t23.html found from
http://www.linux-laptops.org/.
The point is that you add an extra pointing device which isnt CorePointer so it doesn't have to be present when you want to startx. The USB interface also enables hotplugging/unplugging without breaking X.
If I've had my laptop here at work I could have posted the entire xorg.conf. I can post it later today if you want it.