To continue what tedster is saying, the homepage could be devalued and most likely will since the homepage is usually essentially a portal into those other less quality pages/sections of content. My advice to everyone affected is to evaluate all the pages that are linked from the homepage and start there with your evaluation.
Evaluate your site as a whole and make any quick improvements, do all your links work? are there repetitive page titles/meta tags etc? Is all the little details updated? example copyright 2007-2011 (have you updated it to 2011 from 2010 yet?). Do not leave out the little things.
Also if you dont, add an about us page it could possibly help and makes your site look more like an authentic company.