Thanks for your support friends.. It seems I have been able to achieve quiet a lot..
But Right now I am facing two issues…I googled it but couldnt found any working solution yet.
I:How to protect my buddypress site members/member profile content from non logged in or non-Registered users(or Just guests). I am just a beginner to php and unknown to functions to make this resricting function that works.
II: For Logged-in users the Activation/Registration pages always lead to front-page with no Activation/Registration form.. and for Non -registered users it always leads default to home/index template..with complete activation/registration form.
I have a front-page setup for welcome screen and want to add registration form to it or it would be good if the registration page always leads to Front-page with registration form features..