Front page design with blog posts and activity stream

I’ve rough sketched out an idea for the front page of a site but am not sure where to begin. I tried on a thread in the BP forums but I'm not sure I'm understanding. I've attached the sketch.

This is the thread I asked the question - and I'm not sure the responder understands the layout I'm asking about ...

http://buddypress.org/community/groups/how-to-and-troubleshooting/forum/topic/front-page-idea-where-do-i-begin

Basically, I’m looking for a 2 column layout with 50% activity stream on the right side and the left side with blog postings and forum postings. I'm not sure this is possible with WP 3.0 and BP 1.2.4.1. Right now the activity stream cannot be loaded on the front page due to a bug and I'm not sure if an activity stream plugin exists.

Thank you for any help.