Just a quick note, you will notice that a lot of high traffic sites still use the fixed design. Its pretty popular. I find making a theme completely 100% width is a huge pain because small paragraphs, etc look horrible because they widen out so much they look like they are only one sentence.
I really like the new design, but I do think it needs a bit more contrast when it comes to text. A
As far as ideas for news for the frontpage. I would just do a block kind of in the middle of the page, with the 20 newest article links. I would either have a seperate block for security notices or just highlight the security notices in red in the regular news links block. We definately dont want to add TO MUCH content to the front page, but links to the newest articles is definately a must. I think the newest articles for each section/category should display in some type of different format as well. Kind of a featured article type thing.
If
PN finally developed a quality article module that had preformatted templates available for particular types of announcements, I think this would really help with consistency, etc. I think back in the day EZCMS did this. But i would actually have the submit form/fields be different as well per predefined type of article.