If you're ok with not being able to see each others' original out-of-the-camera-full-res files, you can
1) first use Irfanview to batch resize them down to 600x400 or something. Irfanview is so much more lightweight than Adobe CS and does batch resizing beautifully.
2) upload the small sizes to your free Flickr a/c (100MB max/month)
3) still get all the goodies of favoriting, commenting, discussions etc.