Static pages do indeed offer the same formatting tools as blog entries, and have no time stamp or commenting. There can be sub-pages and perhaps sub-sub-pages for hierarchical organisation. For example there could be a main "Documentation" page with sub pages. Let's see how sub pages are connected to the main page.
It turns out there can be multiple levels of hierarchy. Sub pages are connected to their parents with nice links and even to their grandparents with hierarchical, collapsible menus. There does not seem to be a way to make the columns with the sub page links wider.
This may turn out to be more useful than blog entries.