Hi,
To use icons for the settings and edit links:
In the layout.master file of your skin on the <portal:StyleSheetCombiner control add this attribute: UseTextLinksForFeatureSettings="false"
Then if you want to use different icons than the default ones, put them in the /Data/SiteImages folder and then add this in your user.config file:
<add key="EditPropertiesImage" value="yoursettingsimage.png" />
<add key="EditContentImage" value="youreditimage.png" />
Then touch your web.config file to make it reload settings from user.config
I don't know a good way to replace the home page menu text with an image but you could add a background image using CSS by adding a custom menu css class to the home page from page settings. You could position the image so that it is beside the text instead of behind it.
Hope that helps,
Joe