Google does it the way you propose. ...
We all know that Google is a big fan of minimalism, especially when it comes to its famous homepage, where it tries to keep its ‘word count‘ down to 28 words (actually, it looks like it might be up to around 30). Tonight, Google is apparently experimenting with taking that concept to a whole new level: the site is bucket testing a new effect that hides everything on the Google homepage aside from the search box and Google’s logo, only revealing the rest of the navigation elements with a nifty fade effect when you move your mouse.
http://techcrunch.com/2009/10/05/googles-experimental-homepage-fades-to-a-single-word/
Every other website in the world does it the chess.com way.
Surfing on chess.com's site who is VERY RICH
,is not easy at all 
: too many subjects on the home Page :
- login, Register, Play, Ressources, Members..
- Menubar green on a background green ..
it is not easy for a new visitor ..
Improvements :
First Page : Login / Registration
+ Welcome..