I found a simple grease monkey solution that worked for me:
Using HijackThis, find the HTML file that the browser hijack creates on your hard drive. In my case, it was c:\windows\temp\sp.html. Set that file's properties to Hidden, Read-Only and Archive. (I also deleted all the contents of sp.html file in Notepad and re-saved it, just in case.) Then I ran HijackThis again and 'fixed' the remaining search page items. Now the search pages are all set to "about:Navigation Failure."
I hijacked the hijacker! It can't find its page!
Then I went into IE and manually reset my home page.
Search button doesn't work, but I never used it anyway. At least my home page is back for good.
Like I said, a grease monkey solution, but it does work.
If nothing else works for you (like it did me), you might try it.