I have set the Home to be a page, have set the blog to be a secondary page, /news/.
is_home() is only showing as true on /news/ and my template file 'home.php' is loading for /news/.
is_front_page() is respecting the page_on_front option.
It looks like the issue is with $this->is_singular is being included in the evaluations for is_home in parse_query().
Is there another way to make it so that the page_on_front option is respected? Its not like I have any crazy loops going on here, its just a simple page.