I’m creating a template as well and am in a similar situation. I want the homepage to have static content and recent post summaries, and right now I have it as index.php. After reading through some of the docs I dont know whether this should be the case or if I should rename it and use the admin panel to declare it as the new home page. I’ve seen themes that do this with index.php as the homepage though.
Home.php seems like the obvious filename solution however, but I haven’t been able to find out what exactly home.php is used for. If it exists does wp call it automatically, thus bypassing using the admin panel to set a custom-named home page?