The static index.html is indeed no longer used - the home page is generated dynamically to reduce the number of requests to the server.
If you need to customize your home page, you can override its template by placing in your 'web' directory a file called welcome-template.html (or welcome-nonav-template.html if you're using html.customNavigation=true).
You can find both default templates in the root of the server package.
It is also possible to completely override the homepage generation process by adding to the root system Callable Service called <Welcome>. However, this is only required in very special cases (we've had to do it only in our web site and Facebook applications).
It may is also possible to use the relfection mechanism (Miscellaneous/Get Model) to acheive a similar result.
For best results, use the Firefox browser..