I revamped the old version of oldest to newest working on WordPress 2.7. If you have any questions or problems with this, please let me know. If you have tested this to be working on anything other than WordPress 2.7, drop me a comment here and update the plugin description. Enjoy!

Plugin Description:

Take the oldest post and make it the newest post if there has not been a new post in 24 hours, thereby changing the order on home page and other lists. The number of hours may be adjusted with a simple edit. This should only be activated after you have multiple posts on the website. Updated for wordpress 2.7.

Download Plugin: oldest2newest-redux