I agree, you've stuffed way too much on your front page, it's totally overwhelming.
I think you should compeltely remove the very top menu, its background clash with the rest of the site, and you already have that menu at the bottom.
The google ads are the first thing that my eye settles on every time. I would move them to the right column.
The description box underneath the google ads seems completely pointless. You have much better descriptions and 'join now' links that have been pushed to the bottom of the screen. At the very lease you should align the paragraphcs to the left to make it easier to read, lose the large 'join now' button which looks like it was added as an after thought, and minimize the size of this box as much as possible To be honest I would still get rid of it though.
I also don't see why you have yet again the 'join now' and 'member log in' links in the actual header. The log in box is enough, and it's far prettier. The 'featured member's' text seems unecessary and scruffy. All this text has pushed the rotating pictures off your banner so it overlaps the second menu. I think the text and the very top menu really spoil what is otherwise a nice header, with a nice effect.
The second menu needs simplifying too, you've got way too many main menu stuff, put some of it in the drop-down menu that appears. I'd also lose the tansparancy on the drop-down and add a left and right boarder to match the bottom boarder.
Just my thoughts.