static text only on frontpage

What version of WP are you using?

With 1.3 the “is” functions were introduced.

If you have these you can do something like this…

<?php if($is_home){ ?>
<div id="static">Static text here</div>
<?php } ?>

That’s up to you. They have gone up to 1.5 now actually and will not be making a full release at 1.3. If you choose to use beta code, just be prepared for some bugs.