Hi zmogus,

yes, that's the best way to do it.

The only problem that you may encounter is that if you are using the standard Joomla frontpage component, then when you view any of the articles by clicking on them, then the module will also appear on those article pages.

You can get around this with MetaMod, by following instructions on the Quick Start Guide, then using the following PHP recipe in MetaMod:

if ($core_genius->check("pagetype = frontpage")) return XX;
// replace XX with the module id of the module to include only
// on the frontpage.