Like DCHound, I have many incremental goals. I have been rewarding myself with smaller things like books & music so far; and since I met my 100 lb goal, I am getting a new digital camera soon (a good one, I mean; that's my reward).
I have some smaller goals to reach first, but my next major goal is to hit onederland too; then 177 lbs. My ultimate dream goal would be to reach 137 lbs again, but we'll see. I was 177 lbs in college (the second time), and at that weight, I felt good -- I could walk well and do whatever I wanted to do and do it comfortably.
I haven't thought about future rewards much; just getting there is a big prize in itself to me, but lately I have been thinking about getting some fancy new linens for my bedroom, and a new wardrobe too.