I had my arms done in 2005, along with my inner thighs (I had a lower body lift in 2002 and breast lift in 2003 or so). After five years, my scars have faded to being almost imperceptible. They're a thin white line on the inside of my arm, if you look closely. I'm not at all self-conscious about them.
RJS is absolutely right, all reconstructive surgery is a trade-off between skin and scars -- it's one or the other. As long as you have a realistic idea of what to expect from surgery, you'll be fine. I'm completely happy with my results, despite scarring. And it really does fade with time!
My doctor wanted me to be pretty quiet for the first two weeks of recovery but I was doing cardio by the third week and pretty much back to normal lifting by six weeks. I had phantom nerve pain with the arms that I didn't have with any other surgery (the nerves that were cut would go
zing! zing!, especially at night) but none of my surgeries were nearly as painful as I expected from reading on the Internet. Everyone has a different experience!
For any skin removal surgery, you definitely want to wait until you reach your stable goal weight and stay there for at least six months to a year. Major body changes happen with losing the last twenty pounds and it doesn't make sense to do surgery until everything settles down. But you're smart to be thinking about and doing research now so that you know what all your options are when the time comes.
Best of luck to you and this forum is here for all your questions!