@SlasherMan: Ya you can't seem to go up as high with the camera. So you can't just use a button to toggle it on and off? Cause at the rate I am playing I have to use my arrow keys because I am not comfortable with using the mouse to control the camera at all.
Unfortunately, no, there isn't a single lock/unlock button for the camera. This is something that might take a while to get used to, but in the long run you'll come to realize that it's actually the better way to play. Of course it would have been nice if they'd at least provided us with an easy way to toggle (you know, player choice and all), and who knows? They might do that at some point. This is still a beta after all.
You can double tap the F1 key to move the camera to you, and hold it to lock it. But it unlocks when you release the key.
I know, but that isn't exactly practical if you want the camera locked on your hero for any decent stretch of time.