Is there some way to limit the size of an image in a post?
I believe that's a reference to the automatic resizing on the responsive site.
On the original version, if you posted an image wider than the general width of the page as the users browser was set to, the page would stretch out and the whole layout would be distorted with the user potentially having to scroll left/right to see everything (including the text) on the page.
I believe that update note you linked was regarding the current iteration of the responsive site which will automatically resize an oversized image so it fits the users screen width, and the user can then tap/click on the image to open up the full size version.
So you technically don't have to resize your images before hosting them wherever you'll be linking them from, the responsive site should do it automatically at least to the extent they don't break the usability of the site.
If you want them smaller still you'll have to decrease the actual image size prior to upload to the image host.