After the import, and running through the getting started setup your home page will be fully configured according to the demo. Feel free to begin customizing the options and hacking away! The left column of content (col1) is pulled form the home page post content, while the second column (col2) is pulled from the music category. The sidebar recent music and featured music are custom modules coded to pull from the music categories, and the footer modules are lists managed via the Musaic options panel. Refer to the Managing Music setup link to see how to add music posts that contain links to mp3 tracks.
The background image rotator can be turned off, and the images are controlled via the options panel (you can add/remove them easily).