You must have a page called home because that is the page SS looks for when someone types in your base domain name. I'm not sure if there is an easy way to change this behavior to look for another page name but certainly not through the CMS interface.
i believe you can change the name of the home page and make it work by entering your domain name in the 'Use this page as the 'home page' for the following domains' textfield in the behaviour tab. its been a little while since i played with that feature, but i think i changed home to welcome, entered the domain name in that textfield and everything worked correctly, but again, its been a little while.
@ChrisBryer: That won't stop the page from being created, but it helped me fix another problem: Before I filled in the domain, I got an error when accessing / on my server. It was somehow related to removing/renaming the "home"-page.
To stop the creation of the "home"-page you may override the function requireDefaultRecords in your page class. I don't know if there are any side effects though.
I know this is an old post but it seems like there's an another response, which may help some people.
In order to change the Home page URL you can change RootURLController::$default_homepage_link line 16. Set this to the page url you wish to use as the homepage. However, this will not stop a home page being created automatically. You also need to edit SiteTree::requireDefaultRecords that @JohnSilver mentioned.
Why the requireDefaultRecords function doesn't use the variable from RootURLController I don't know.
It is also important to note that if you set the value to a url which does not exist on a Page already it will not create that page automatically for you.
It would be nice if this was configurable from mysite/_config.php, I might bring up a ticket for it and see what response I get.