it is a partial zoom. at full wide, you'll get a hell of a lot of vignetting though. you have to push about halfway through to get rid of it, then a bit more and you're focus is shot. you're focus number should be 10 or 11 (macro range) and a quick test will show that the camera cannot hold that focus setting past zoom 74 or so.
so basically, you have 75% of your zoom, but only about 25% of your range w/out vignetting. if you don't mind the heavy vignetting, it's one really sweet shot. you can focus to about 5mm off the lens, and get some really amazing shots. shove that thing right up into somebody's face and it looks fantastic. great effects shot.