As of Responsive v1.7.5 you can now use shortcodes in home content area, as well as featured content.
What does this mean to me?
Well very simple: If you want to replace your featured image with a slider, or anything else provided by plugins, just insert their respective shortcodes in the area of your choice and save it. In matter of minutes you can have nice looking slider, or whatever you want to display.
When slides are in and published last step is to go to Appearance > Theme Options > Home Page > Featured Content and paste Meteor Slides shortcode and that would be:
[meteor_slideshow]
Press save and refresh your homepage and enjoy your nice slider
Note: Meteor was used for demonstration purposes only and because this plugin is using "Responsive" layout as well.