i'm almost certain this can't currently be done without hacking, so i'm reposting it here as a feature request.
the static page feature is great, it means i can use wordpress in the slightly more 'cms'-ish way i want to. however, here's what i'd like to do...
http://example.com = static front page (non-wordpress)
http://example.com/blog = blog home
http://example.com/page1 = 'static' page (wordpress controlled)
it should be possible to expand the static pages so that they can be hierarchically above the blog uri... it would just mean creating the necessary mod-rewrite rules in a separate .htaccess in the higher directory, rewriting to the actual blog uri
actually taking this further, there is no reason why the front page of the site couldn't be a wordpress-controlled 'static' page. now that *would* be cool.
i'm pretty sure i can get this working by hacking the .htaccess filew... i'll post an example if i manage it.