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I think this looks beautiful.
Only issue that I have is the break is at an awkward place. There is definitely more form then function here. The first impression is just this huge image and the navigation/headline. The content requires scrolling and more importantly there is nothing to let the view know that they need to look down.
Depending on their browser, a viewer could not see any of the images bellow and just go to the navigation links or be a bit confused. If this is for a site that is more about image then communication information then it isn't a problem.
