Hey man!
Well, to answer your question, Lightmass IS static lighting. So there is no difference in Unreal. Static Lighting=Lightmass.
Actually, I believe it doesnt really make a difference! I normally use the lighting method that I will use in the end as well, but thats personal preference.
You can use a movable directional light and a movable skylight. Note that you wont get shadowing from that skylight until you turn on distance fields.
What you can do though, and what I and others have been doing as well is export your blockout stuff with simple and quick box mappings or flatten mappings applied. This way Unreal can still turn those into Lightmap UVs and you can work with Lightmass even in the Blockout phase.
I have been working on a new environment with some friends and we heavily use lightmass during the blockout phase and make sure all whitebox meshes have at least some quick UVs to work with. Also, this approach can give you a better impression of the direction you are going to even in those early stages. So yeah…I am actually a big fan of having everything set up in a working way right from the beginning. Makes things a lot easier down the line 
This is an example of what this can look like (with Lightmass), its heavy WIP and everything you see is just whitebox placeholder stuff:
http://imagizer.imageshack.us/v2/xq90/922/lg18CY.png
http://imagizer.imageshack.us/v2/xq90/923/dozDPA.jpg
Cheers! 