Simon suggested creating a category for front page content, for example a category named "Front Page" and place items in there that will appear on the website entry point. Makes perfect sense.In the process of doing that I realized there's a good reason why Joomla has a component called "Front Page Manager". The design approach in Joomla seems to be:
Create your hierarchy of sections and categories for your articles (excluding front page content)
Write your articles and put them into the appropriate categories
Pick from those which articles should appear on the front page using the Front Page Manager

Under that scheme the article isn't "moved" from the section / category it's in "to" the front page. Instead the Front Page Manager creates a "view" of content that becomes the front page. In K2 however, there doesn't seem to be a way to do that. Unless items can appear in more than one category in K2 I'm not sure you can avoid moving content in and out of the Front Page category as Simon suggests. Being a newbie I may have misunderstood Simon or just missed something obvious. My apologies if that is the case.The difference seems to be that Joomla creates a "virtual" front page, or a "view" to content organized for display elsewhere on the website. In K2, an item resides in a single category. It is only visible in that category, although that category can be moved around it is never really "virtual"; the item is in a category and that is that.I stumbled upon this in while trying to organize the contents of my Front Page category. I couldn't figure out why the order was not behaving correctly. Everything worked as expected if the "home" menu item was set to display only the Front Page category. But if more than one category or sub category was selected the order options didn't seem to matter, even if there were no items in the other categories. Going back to the standard Joomla front page content I could see ordering was working properly and was very straightforward. Then I got to thinking about the different methodologies.

Another method might be:
Design a particular K2 Item in whatever category you like
Create a joomla Article called Home Page
in the content put {loadposition ftpage}
copy the module mod_k2_content and rename it to Home Page
Specify the position ftpage
In the Paramaters Source choose Select Specefic item
Select the k2 item you want reguardless of its cat or sub cat
Change the Joomla Home page link to Joomla Article and select Home Page

Hey thanks for the pointer William. I've read a little about the {loadposition} approach but haven't really looked into it. What I recall is that by adding tags like that within articles you can embed module content. Is that correct?

Then the k2_content module provides the "view" the Joomla front page manager achieves.

Your approach seems more flexible, and provides for total control of the fp content coming from anywhere.