Very nice photos, but I disagree that this is an effective use of flash. The look and navigation can be as clean as you like, but with load times like these (cable modem), very few people will have the patience to view all of your photos. The casual viewer is forced to wait for image after image and is likely to just give up. If it weren't for the progress bars, I think most viewers would conclude that the site was broken; as it was, I almost felt like the multiple progress bars were mocking my as I tried to view your images. Is it possible that the slowness is because your image files are sized larger than they need to be for this gallery display?
I also don't like it that I have to figure out with no guidance how a key part of the interface works (the arrows on the large images). Site navigation should never be a mystery, even if the mystery is easily solved by moving the mouse around.