Problem with that is a lot of people don't bother with the homepage and go straight to teh forums so the adverts would not get seen so revenue would drop and it may not be possible to keep the site running with less income.
What is not convienient about clicking "latest posts"? It is easier to see the time when the last post was made so you just look back to the time you last visited and easier to see who posted last incase you are not interested in what they had to say.
It is interesting that none of the other MTM mag forums have a longer list, some are shorter, some no list at all and on at least one the link to the forum is well down the page.
It would be nice is the "join our newsletter" was lower down or did not appear to those who have signed up.
Also when the banner add space along the top of the page is not being used (seems most of the time now Myhobbystore is no more) could the blank space be done away with which would move things up the screen