Creating a Static Homepage when Blog setup on front page

Okay. So:

http://www.themusicmag.com

I currently have my blogs going directly to my home page. I’ve decided that i’d prefer to create a static home page and have my blogs going to – With maybe my latest post on a section.

I was wondering if there’s any way of editing where my blogs are going to – without ruining my blog permalinks – http://www.themusicmag.com/music-reviews/maximo-park-quicken-the-heart/ for example.

I don’t even mind about that to be honest as my latest blogs i edit the pages and update on the pages – I just want to be able to create a static page which will be at http://www.themusicmag.com.

Can anyone help me do this?