I've switched over to using the Base Child Theme, after reading about setting up a custom page template here:
However, the template doesn't show up in Page Options for me to configure via Drag-n-Drop. Following along with other forum problems of a similar bent, I tried deactivating all plugins, and my page is called page.home.php (no dashes or extraneous characters), and it still doesn't show up.
I've set debug mode on, if that helps.
I am in WP 3.5.1 and using the most current version of the Pagelines Framework.