[thelist] h1 as business name or content

[Bob Meetin]

What is the best practice in using <h1>?  I am currently limiting to one 
per page. If so, should it be the first line of main content or the 
business/site name if done in text in the header?

For instance: 

header - alt'ed header image with probably no header context
main content - <h1>, <h2>, etc...

or

header - text only business/site name as in <h1>site name</h1>
main content - <h2> only

Or is the answer, "it depends".

-Bob