@Simpkin, yes, totally possible. Go into options and switch your camera to "The Sims 3 Camera" option. You can select any angle you want to with that camera setting. Just hold middle mouse button and move the mouse to adjust camera angle.
That camera angle is how I mostly play the game....I haven't turned the default camera settings back on since the week the game launched.
One note, however, if you play in sims 3 camera mode and also switch into 1st person mode sometimes you should consult yesterdays patch settings for the cheat codes for switching camera modes when in 1st person...personally didn't see a reason to myself, but the patch notes seem to think you'll want to.
Edit to add: If you do not have a middle mouse button, you can also instead hold control and the right mouse button at the same time, then move the mouse. Does the same thing for camera tilt and pan, middle mouse button is just easier if you have one.