The highest I've ever been was 240lbs the day I gave birth to my daughter. My highest post-partum weight was 225lbs. Even though that's at the lower end of the 200's I can tell you that the difference that I feel now vs then is tremendous.
- I have knee problems and the larger I am the more I hurt. At my heaviest I would have insomnia at times because they were aching so badly at night.
- I'm large chested and I get lots of back pain from it, which is obviously worse at higher weights
- I'm prone to cysts and would like another kid, this also improves with weight loss
- A number of family members of mine have high blood pressure. Right now my blood tests turned out perfect. It's not something I want to deal with later on in life.
- I fly often for work and those airplane seats are sooo much more comfortable!
- I spend less money on clothes (or maybe better put I will at my goal weight) because I don't need to go to specialty stores, I feel like I can invest in higher quality pieces that will last longer, I can now shop at thrift stores that usually only carry smaller sizes, etc
- My feet hurt more at higher weights
- I get more respect at work at lower weights (sad but true)
- ehem, it makes adult relations a lot better for many reasons

- I spend less on food and get to enjoy restaurant food longer (because I save it and it lasts for multiple meals)
- I no longer suffer from headaches/dizziness due to my blood sugar crashing after too much sugar
- My digestive system works better without all the junk
- I can carry more and am not nearly as dependent on DH when it comes to getting things done around the apt/carrying groceries etc
- I have more energy to play with my daughter
- My brain is free more often because I'm not constantly obsessing about food
- I've picked up new cooking skills and I find my food actually tastes a lot better now that I've learned more about herbs/spices/whole foods etc
- I have more confidence no longer being the largest person around.
In full disclosure, my life isn't perfect. That are certainly some cons to weight loss (loose skin, dealing with unwanted attention from the opposite sex, dealing with comments from others etc) but those minimal compared to the advantages. It's not that you have to be a twig but I can tell you that I've seen a HUGE, HUGE difference in myself at 180 vs 225.
I've purposely lost slowly this time around and it's given me a chance to deal with a lot of mental issues that put me at my highest weight initially. I've learned healthier ways to deal with stress and emotions, in general, vs just using food as a band aid.
Good luck and there's no reason why you can't lose a bit, maintain for awhile and decide to lose more. Ultimately the weight loss journey is about you and improving your life so you should dictate how it goes.