Steven,
The thing to do is to figure out the "most wanted response" of your first page and your site in general. This will depend on your "marketing sequence" and so on.
If you sell high priced consulting, for instance, then the chances are that people are not going to buy off the page, so your best bet is to aim for subscription to an ezine, and then you can use the home page to sell that subscription. Hint: offer a free report or toolkit that matches the needs of your market with the products and servics you sell.
You can also use the front page to give calls to action to other parts of the website. E.g. "if your problem is X, then read the article on Y". Alan's site is a good example of this where he basically uses the front page as a portal to his main three products
www.orangebeetle.com.
Or, if you have a front-end product, you can use the front-page to sell that, and also put in calls to action to check out other, related articles/sales pages.
You may need to spend some time designing your marketing sequence to figure out how people usually come into your business, what they buy first and whether they progress through a "product funnel".
Hope this helps,
Jane