It is true that WPBook "prefers" to have the home page be the blog listing page, or more accurately it was designed for that use case.
If you have a static page, WPBook will still work, but the app will show the static home page instead of a list of posts.
In other words, WPBook doesn't really care what your home page, but will show in FB the same home page you have outside FB.
Look at these two FB apps and WP Blogs for examples:
http://www.openparenthesis.org/ and http://apps.facebook.com/openparenthesis/
(Those two use a blog list page as the home page)
Which use a static page as the home page.
The trick is in either case to set as the canvas callback url of your blog the root url of your wordpress install.
If you set a static homepage, but point WPBook's canvas callback url at your blog listing page, you will have problems.