I was wondering if I can create a rotating image with sevaral images in Photoshop? Much like a gif? Would this improve my page load time or would it be the same as loading a slideshow? Here is an example of what we wanna do vacationsalabama
Yes you can create a gif in PS to do this but it would be much easier to accomplish with some simple JQuery Image slider.
Several examples here
The benefit is they load faster, have speed options, and switching images out is a breeze. They can also have links asigned to the images as they appear.