If you want to be able to interact with the objects displayed in the plot, you will be better off using a QGraphicsScene. It handles zooming and panning and can contain other QGraphicsItem objects that can handle their own interactions.
It's very easy to use, but there is a bit of overhead involved, especially if you plan to make thousands of objects.
You can find a PyQt tutorial here. This and the API docs should get you started.
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