Posted 13 April 2011 - 05:21 AM
If I understand correctly, you could manually set "Front Page" and "Posts Page" in Settings > Reading.
You would set the "Posts Page" to be the "features page" you described.
For the page that you set as "Front Page," you could use some `postfeed` shortcodes in its content, where offset = position from the most recent post (all posts, all categories):
`[postfeed field="post_title" offset="0"]`
`[postfeed field="post_content" offset="0"]`
That's a built-in shortcode, but if you want more flexibility (or something else entirely), I think you'll have to go a plugin or hooks.