700kb for a single page, especially the main page, is seriously terrible. And no single image on a main page should ever be 400kb.
The whole site, excluding gallery images and other downloads, should be under 200kb. And there's plenty of room for cutting down. The navigation images, for example, are 17kb each, where they should and easily could be around 5kb or less.
On my computer it can take almost half a minute to load the main page. So although the current design looks nice, I must say I prefer the old design. It ran far smoother.