Slideshows are nice to have on a homepage. It sets a mood, they're eye catching and if you can't decide on a single hero image you can have 5.
They're a poor method of delivering information however and best used only to give a taste of what's on offer. Just like powerpoint slideshows they're there to support the communication, not to be it. If you want to give an overview of the 5 products it's better to put them in a list. That would allow me as a visitor to browse them at my own pace, go from 1 to 5 with just a flick of the scrollwheel instead of having to deal with the controls (and animations) of the slideshow.
So, it won't be a bad idea to have a slideshow of your products on the homepage like layout 1, but then I'd expect to have a link to an overview page that looks more like layout 2. You can have both, yay!
If your list of products grows so much that it becomes impractical to list them all as in layout 2, opt for a more compact version of that layout or you could split them up in categories.