How to change the size of the image displayed above single posts

Hello All,

On a single post the Blogs MU theme displays the Featured image ABOVE the post title in a fixed size. (seems to be 150x150)

Appearing ABOVE the title the image looks unbalanced and odd at that fixed size and if a Featured image is set that exceeds the fixed dimensions, then the image is cropped instead of resized proportionally.

Trying a workaround of NOT setting a Featured image and just inserting an image into the post body then makes the blog page have no images displayed per post as well as it negates image display anywhere the Featured image would be used in the theme or by plugins.

SOLUTION 1
I would like for the image on single posts to appear inside the post body UNDER the title left justified with text wrapping around the image.

OR

SOLUTION 2
If the image must display ABOVE the post title, then I would like for it to display proportionally in size so that larger images are not cropped and so that I could use a wide image that would fill the width of the content space above the post title to make it more balanced in appearance. (i.e. 600x150, 600x300, etc.)

Here is an example page where the image on the single post is being cropped instead of resized.
http://worldmoodukkwan.com/world-moo-duk-kwan-symposium-oct-30-2013-november-4-2013/

Can someone advise the theme code edits required to accomplish the solutions listed above or propose an alternate one?

I would hope to incorporate the change in a manner that it would not be lost with a theme update.

Thanks,
Phil D