Replicating default theme homepage on a custom page

My current site is here:
https://www.caseymacphoto.com

I’m redesigning my site here, where I am experiencing the problem:
https://sandbox.caseymacphoto.com

On my new site, I’ve created the homepage the way I want it to appear, with a featured post and the 8 most recent posts down the sidebar.
I, however, want to create a “Blog” page that displays all of the posts in the manner of the original site homepage (caseymacphoto.com). In a list, with pages at the bottom going back for all posts ever created.

I’ve installed the Exec-PHP plugin so that pages understand PHP.

The current code displayed on my blog page is

<?php query_posts('posts_per_page=5'); ?>

<ul>
  <?php while (have_posts()) : the_post(); ?>
  <li><a href="<?php the_permalink() ?>"><?php the_title(); ?></a></li>
  <?php endwhile;?>
</ul>

<?php posts_nav_link(); ?>

…which works reasonably well, but it’s displaying the entire posts, regardless of length, and it is also not displaying page navigation correctly.

Basically, I just want to display it like the default WordPress theme home page.