Changing H1 Per Page Type

Just posted this over at the Sandbox Theme Group – posting it here to give it a bit more exposure:
This has been on my mind for a long time and there might be some kind of official party line or discussion that settled it once and for all. But…
Has anyone ever thought of using H1 for the Blog Title only on the homepage?
I’ve wrestled my own templates a couple times thusly:
Single-post page: Blog Title is P, Post Title is H1 with maybe Excerpt (if there is one, not the auto-generated one) as H2
Category Archives: Blog Title is P, Category is H1 with maybe Category Description as H2 and each Post Title in the listing as H3?
You get where I’m heading.
There seems to be a slight shift between semantic and presentation – that yes you want the nice fancy title header graphic for the blog/site on every page but semantically the blog title is less important than a post title on a single-post page.
Ya dig? Love to know your obsessive thoughts.