Well, okay, I should clarify a few things I guess.
The FAQ is perhaps not too explicit about this, but essentially static time and dynamic time are fundamentally opposing theories. "Static time" is the description we use for a model of time in which you can't change the past, while "dynamic time" is the description we use for a model of time in which you CAN change the past. In the FAQ we just call the "static time" theory described "Static Time" as if it were the only model of time in which the past can't be changed, and similarly we often talk about "Dynamic Time" as if there were one single model for time in which the past can be changed. That's not entirely true though.
Essentially, assuming that the past can't be changed, then your options become extremely constrained, and the Static Time theory described in the FAQ pops up as one of the most natural models. It is possible that there are other models of time which are such that you cannot change the past yet are not completely the same as our Static Time (I could go into more detail about this later maybe). For Dynamic Time, the only explicit model in the FAQ is Squall_Of_SeeD's, but with dynamic time there are very few constraints so there are without doubt many different kinds of dynamic time models.
Anyway, the point is that "static time" and "dynamic time" really refer to distinct classes of time-models, so to speak. The "static time" class consists of models where you can't change the past, while the opposite is true for the "dynamic time" class. Hence there is by definition no way that dynamic time and static time can be made compatible.
However, there are, as I think you were trying to say, different properties of both types of models which might be desirable to intertwine with eachother. Static Time only has one 'issue' with it really, and that is that it lacks the intuitive idea of a flow of time. In our model of Static Time the ULOT is entirely rigid, there's no flow of time whatsoever. In the Dynamic Time theory of Squall_Of_SeeD, and most dynamic time models, you do have the idea of flowing time, because dynamic time models tend to be based on the idea that the future doesn't exist yet, but is constantly being created 'as we speak', in some sense. The timeline really is thought of as forming like a stream of water forms a river.
I'm not entirely sure if that's a desirable property to have in any model, since as I explain in the FAQ, I think the idea of flowing time is absurd in the first place, despite how intuitive it is. However, I can see why one might want to include it in your model. So can this property be fitted into a static time model? Perhaps, in fact maybe even probably. It might be possible to have a well-defined model where the future doesn't exist beyond the 'present', yet you still can't change the past. Is that sorta what you had in mind?
I think another possibility is mentioned in the FAQ, which is how it is conceivable that a dynamic time model could end up turning into a static model. The idea is that in dynamic time, every iteration of the timeloop in the game would be slightly different, but might gradually converge to some fixed loop. Eventually it would appear as if the loop looked the same every time, i.e. it would appear as if no one were changing the past. Dynamic time would become (at least locally) static.
ANYWAY, I've gone on for quite a bit now and it's all been rather technical. Hopefully I mentioned some stuff which is interesting >_<