Home Page Protection on Upgrade From V3.3 to V3.4.2

Background: Running a simple Membership protection scheme whereby "visitors/strangers" have no access to content, including home page. All they see is the Protected Content page which allows them to login. We only have one Access Level, with no rules. Essentially, letting them see the entire site. It's a community site, so it works perfectly for our needs.

V3 to V4: On upgrade to Membership 3.4.2 from 3.3, it seems I can no longer protect the home page. I did a straight upgrade using WPMU DEV and now if "visitors/strangers" go to the primary URL, they see the Home Page, and not the Protected Content page. Attempts to access any other URL, send them to Protected Content, but my Home Page is exposed. I went through and reset all of the options, re-selected the Protected Content pages, etc., hoping that would fix, but no luck.

Have had to go back to 3.3 until I know how to address.

Thanks in advance for your assistance.