You could install a tweak called activator through jailbreaking and set a swipe/gesture as the home button instead. I set mine so that when I pressed the status bar, it would activate the home button. Options are endless, you could set the volume button as the home button, etc..
That's very true but I just about managed it by taking the screen off and using some tinfoil across the home button contacts. But with the whole process that was required u have to have some flexible fingers to pull it off!