It looks pretty good overall - nice and clean. I agree about the navigation - making it all caps instead of fake drop caps would look loads better. In fact, taht goes for all your headings - use upper and lowercase or all caps. You Also Don't Need To Capitalise Every Word In A Heading. Just the first one. And yes, a slightly bolder font would work better at the smaller sizes - just go to Roman instead of Light.
I also find the change in font from the graphic headings to the text headings a little awkward - it's almost too similar. So it looks like some of your type has gone a bit wrong. Either make them all graphic (which I know isn't ideal for SEO) or use something that sits with the other font (DIN?) but isn't trying to be a bad copy of it.
I also think there's too much copy. And the line length is too long, making it really hard work to read.