In truth, it's not the dimensions of the sig that makes it so slow to load... It matters more about kb size.
Using my 'Marhkimov' sig as an example, I saved it in photoshop at the highest color resolution for jpg format. It is quite small in size (350x180) but it takes up a lot of memory (26488b).
Compare and contrast my sig with Dowly's 'U-571' sig, which takes up more physical space (512x220) but actually takes up less memory (14177b).
In short, if a sig restriction were needed (not that I would care for one), sigs should be small in its physical dimensions, because sometimes larger sigs are just annoying...
That's just my opinion.... But sigs should also take a lesser amount of kb space. Smaller kb size would help loading times.
Speaking of which, I think I'll re-design my current sig... Smaller and more efficient. Though perhaps a little larger than Avon Lady's suggestion...