Hi Daniel,
While 11.3s is bad, I had a client who had 14.x seconds and when it was all said and done we were able to get him down to 0.86s on average.
You bet there is a quick way to speed up your website. And you're in luck since you are running WordPress... go install the free plugin W3 Total Cache (W3tc). There are others... don't use them. W3tc is by far the best, albeit it can be a little complicated at first blush.
To overcome the complications, either hire a pro to set it up for you (around $250) or go to gtmetrix.com and do a test on your site. Keep in mind that GTmetrix will always understate your load times so only use webpagetest.org or pingdom for getting an accurate result.
Once you have the results, scroll down to the tab labeled "Page Speed" and you will see where it says "recommendations." When I run a test on your website the #1 thing it shows to fix first is combining your images using CSS sprites. That might be a little hard unless you've done it before so I would skip it and go to "leverage browser caching". Click on it and it will drop down and tell you what you need to do and what are the problem pages. In this case, you need to specify browser caching of at least one week. So now go to your website and to the W3tc plugin you just installed and look for the browser caching setting... if I remember correctly it is in the general settings but I could be wrong. I believe you'll have to set it in seconds.
Then do that for the rest of the items on the GTMetrix report.
Once you are done with that, go install Yahoo's SmushIt plugin for Wordpress. Then navigate to it a do the bulk smushit... part of the problem is just the fact that your page size is almost 2MB... mainly because of photos. Once you run the smushit plugin, your page size will be more around 500KB. That's still about 5 times what it should be so you should really take advantage of CDNs (W3tc will help with that) and maybe hosting all your images on a subdomain so that you can take advantage of HTTP's ability to load from multiple resources at once.
Last thing, in the future, when you upload photos to your website, make sure that you are uploading in a size that is just the right fit. WP will allow you to upload a photo with sizes up to 2MB and then will resize for content but you'll still be loading the full size in the background... thus killing your load times. And if you have the option, choose JPG over PNG as it compresses better... unless you need the alpha channel.
Be on the lookout... I hope to be posting an article to SEOMoz's UGC blog that covers all this in more detail soon.
Best of luck!