Kyle, congrats on the weight loss. I started at a similar body type about two years ago and now hover between 145-150 lbs. I'd still love to lose another 5-10, but have found it difficult. I, too, still see all the worst parts of my body, even though friends and family rav about how great I look and my bf can't keep his hands off me.
I started doing p90x, and haven't lost any weight on the program, but I have gotten incredibly fit. I can run faster and longer, the workouts get easier, and I can push some serious weight around. I even had someone tell me "you look so fit and healthy" and asked if I do any kind of fitness competitions. So...I guess all I'm saying is agreeing with everyone else. Start doing more weightlifting to build muscle and tone up. You'll be amazed at how your body changes. I'd suggest taking measurements (arms, legs, waist, etc.) and comparing them once a month as you progress.
Stick it out and you'll get there!