Only most recent post on home page

OK, this is strange because I’ve seen a lot of people posting the same question, but no clear answer. What I’m trying to do *should* be very simple – show only the most recent post (in it’s entirety) on my home page. Here’s what I’ve got going now that doesn’t work:

<?php
query_posts(array('showposts' => 1));
get_header(); ?>
<?php get_sidebar(); ?>
<div id="content">
<?php if(have_posts()) : ?>
<?php while(have_posts()) : the_post(); ?>
<div class="post">
<h1 class="pageTitle"><?php the_title(); ?></h1>
<h2 class="date"><?php the_time('F jS, Y') ?></h2>
<?php the_content(); ?>
</div>
<?php endwhile; ?>
<?php if (show_posts_nav()) : ?>
<div class="pagination">
<span class="prevlink"><?php next_posts_link('Older Posts'); ?></span>
<span class="nextlink"><?php previous_posts_link('Newer Posts'); ?></span>
</div>
<?php endif; ?>
<?php else : ?>
<div class="post">
<h1 class="pageTitle"><?php _e('Not Found'); ?></h1>
</div>
<?php endif; ?>
</div>
<?php get_footer(); ?>

I’m still getting 10 posts on my home page.

Any ideas?