BuddyPress.org

Alrighty…

Create 3 pages in your main blog. Name them “Root” “Blog” and “Home” (you can name them what you want, but this way they have distinct purposes.)

Set “Root” to be your static homepage.

Set “Blog” to be your blog page.

Rename “home.php” to “homepage.php” and at the top if it put

<?php

/*

Template Name: Home Page

*/

?>

Edit the “Home” page, and in the “Page Template” area, select “Home Page”

Viola? Hopefully.