Homepage not redirecting to login when set to private logged in only

I just updated to 1.09 and the homepage is public even though it is set to private. It worked with 1.08 properly and was only after I updated that the frontpage was open to the public. I tried resetting privacy options with no luck for the main blog.

WP 3.3.1 multisite
BP 1.5.3.1

Any ideas? Also, with 1.08 it takes exactly 30 seconds for the login redirect to work. Very puzzling!