I'm a pear shape to the bitter end. If I was losing weight for my torso, I'd be done now. But I'm willing to lose another 5 pounds (to the bottom of a healthy BMI, no lower) to see if my legs lean out a bit more and if I prefer my physique that way.
I agree with sontaikle
: heavy weight training is ideally the way to go. You will build/retain muscle, and the diet will cause you to lose the fat. Your body will take off the fat wherever it darn well pleases, so you just have to keep going and see what happens...
I recommend taking progress pictures. Just updated mine yesterday. On the left: March 2011, ~132 lbs, 27" waist, 39.5" butt/hips, each thigh 23"; on the right, 8/6/12, ~120-121 lbs, 24" waist, 36.5" butt/hips, each thigh 21". As you can see, my legs aren't perfect-- I may never totally get rid of the cellulite and saddlebags-- but they are much improved. Since I have leaned out in the torso, and since I have added some width in my shoulders and upper back, I do look more proportional.
(Sorry for the 5 million dumb boxes. Don't want anything too personally identifiable.