Sure. The fact that my theme displays a simple list comes from my category archives template. :)
So do exactly as it says in the faq:
1. Use the static front page plugin normally
2. Create a category called 'Blog', make it the default category, and put every post in it
3. Link to the 'Blog' category in your navigation menu
And voilÃ , a static front page, and a 'blog' page that displays what would normally have appeared in your front page.
Also, and as an aside, if you activate the opt-in front page as well, and then activate my fuzzy recent posts plugin, an 'archives' link will appear after the list of recent posts (exactly like on my blog).