I don't think you should worry much as most big games need time to load (angry birds is the best example.
Do you really need 400 sprites In one screen, this is too much for any engine to handle.
However:
Try to load the specific sprites every each level.
Do not delete the sprites if they are gone dead. Make them invisible so the come back to life in next level or screen.
A stone sprite can be turned into tree other screen (as an example)
Use dummy sprites and set physics around them. Dummy sprites have no image but they exist. Just hide them behind the level bitmap. This way you save much time In loading images.
And so on.....