Hi Bill,
Not sure if you have already solved the problem with your home page not displaying the body text, but if not then it is almost certainly what you suspect - the 'content item' includelet needs to be in the 'content' column of the layout tab.
There are a couple of reasons that may prevent you from dragging it there.
Firstly, if the includelets on the layout tab are grey and there is a message, "The latest revision of this item is published." in a yellow area at the top of the tab, then click the "Create a new revision to make changes." link. This will put the page into edit and allow you to drag the includelets from column to column.
Secondly, the system can sometimes be a little fussy about the exact spot to drag includelets to. The best approach is to drag the includelet and when it is over the column that you want to drop it into, watch for a thin horizontal red line to appear in the column. When that appears you can safely drop the includelet and it should appear at the position of the red line. If the line doesn't appear immediately, moving slightly further down the column will usually get it to show up.
Once you have moved the includelet, go to the 'edit' tab and click the 'save and publish' button to make the change live on your site.