To resolve loading time
You have to compress your photos before uploading them to the server. Use export to web in photoshop, make sure the image size is reasonable (I would say never more than 1mb); You can also use image optimisation software (In Mac I would recommend JPEGmini).
You can, if you wish keep your large images in a folder in your site and link to them (so that one can download them if you allow this).
To resolve the ratio issue (square vs rectangle)
You can just use one of the properties and css will calculate the other. For example, if you put only
#image{
width:750px;
}
This will resolve the matter of things "getting messed up" if you mix rectangle images with square images.. Good luck!