There's a lot of posts, but they are very short, at least the ones I clicked on. Hitting "read more" only gives the users a few more sentences. The current excerpt gives them about 80% of the post. In these cases you might as well show the whole post.
One advantage of displaying full posts on the front page, is that the content gets indexed by search engines more quickly, though simply having the links to the post partially helps in that way, but your home page gets checked more often. I like the post slider at the top of the page going between posts. I recently added a similar thing, but smaller scale, to my home page, but it's only partially complete. I want to add manual controls to it.