Is it better to have a static block of text for your front page targeting a few of your juicy top level keywords, or is it better for your front page to be a list of your latest posts/pages?
Better put your squeeze page as a front page, build your list faster.
This is a false dichotomy. A third option (and better option) could be... both!
True, it just feels like that above-the-fold space is at a premium and if I have a static page taking up space telling everyone how awesome xyz is, that's less room to show visitors other awesome shit they can read about.