Thanks for getting back to me so quickly, I changed it and it had no effect, the settings now match that of the quick start package that I installed on another subdomain, but they still look the same even after emptying the local cache and purging the CDN. Previously they were 320px x 320px as opposed to 150px x 150px.

This is how the Media Settings look:

Just a bit of additional information, the featured colognes image itself is 750px x 570px, so it isn't a square image, nor is it low resolution. It is one of many images which have this issue.