while I'm waiting for it to load ,2 minutes so far it all looks quite good but you could maybe put in a little more content to be going on with.
OK. 2minutes 30 seconds,then as you say it all comes in fairly quickly.
I have a dreadfully slow connection so I wouldnt say its any slower that usual, but i'm not sure the preloading gives much advantage especially as the backgrounds use the same picture so it would reload quickly anyway.
ps. I'm not so sure about the background being the best choice when it comes to legibility but the site as a whole looks well laid out.