Creating a static front page in wordpress is something which was new to me.
I've been playing around with it today and identified potential duplicate content problems.
Even though when you create a new page which gets displayed on the front page, the original page which you created (even though the permalinks are changed to the root) still displays the same content, hence the duplicate content issue.
So if you are using static pages in wordpress, make sure to 301 redirect the "Home"page which you created for the front page content in .htaccess or using the redirection plugin, so the duplicate page gets redirected to the homepage.
Hope this helps.