Well...before everyone who is still trying to lose those 'ell-bees' gets all depressed reading some of the posts from others here...I just wanted to stand up and give the long-termer's POV. Summing up in four words or less:
IT DOES GET EASIER OVER TIME. Okay, that was six words, because I dropped those last couple in on a whim.
As most of you probably already know, I'd been on diets since I was 7 years old - yo-yo-ing up and down the scale, until I reached my high weight of 265 pounds back in early 1990 (it might have been higher than that in 1989, but I didn't go NEAR a scale for at least a year prior to that, as I recall). I was selected for a Stanford University study on weight loss maintenance - my group started in May 1990. At the end of the 18 month study, I was down to 177 pounds. From there, I floated down (with some ups) to my current weight of 146 (as of this morning). My lowest weight was 143, but I find it very difficult to maintain below 145, and since I'm lookin' pretty good in the range of, say, 145-150, I don't really stress about it too much.
Now as far as the being hungry all the time, the being cold all the time, the need to exercise constantly - well, yup, there WAS a time when I WAS constantly hungry - but in doing journaling, I've found that a lot of that 'hunger' wasn't 'stomach hunger' but rather 'head hunger'. And especially during the study, I was cold a LOT - naturally since I was used to carrying around a lot more blubber as padding (Since the first part of the study took place during the summer, I did look quite odd wearing sweaters in August!). I can't REMEMBER the last time that's happened - my body has, I think, adjusted to its current weight for the most part.
As far as keeping my calories low - I remember I DID monitor my calorie intake for some time during and after the study. Occasionally, if I feel I might be eating a bit too much, I'll use Fitday for a day or two and log my eating intake. Not very often though. I have no idea how many calories I consume in a day, but I do have a habit of eating pretty much from what I call my list of 'staples' - a mental list of different foods that are pretty much the bulk of my diet - eggs, cottage cheese, oatmeal, fruit in season, chicken breasts, the occasional steak and fish, and lots of salad! I do eat other foods, generally on the weekends, and I have been known to grab a couple of Tootsie Rolls out of my horse trainer's candy bowl.

But generally, I don't count calories.
As far as the exercise thing - I do exercise a LOT, but at this point it's a part of my life that I look forward to and enjoy. If you had told me 15 years ago that I would be looking FORWARD to getting up at 3:45 and hitting the gym at 4:15 or so, I'd have said you were absolutely nuts - but it's true! And this summer, I've added Pilates and Yoga to my routine 2-3 nights a week. Of course, there's also the riding I do - but that's totally for fun. At 265 pounds I would have never considered riding a horse - not that I don't know people that size or larger who DO ride, but I would personally have felt like a big, fat blob astride a horse (especially an Arabian horse).
What am I trying to say here?!?! (good question!) I think it comes back to this - IT DOES GET EASIER WITH TIME! I get the idea that most of the 'maintenance' studies have only been done with people who have maintained their weight loss for a shorter period of time, say five years or less. My personal, unscientific impression, based on what I've read, is this: perhaps once you've been 'not-fat' for a long period of time, your body starts getting accustomed to being at the 'not-fat' level. Sort of like the setpoint theory. That's not to say that I'm going to become complacent and fall back into old habits - like my old ones of going to McDonald's and ordering a bunch of hamburgers, 2 large fries and 2 shakes (so the cashier would think I wasn't going to eat all that stuff by myself, which I was...) or eating half of an extra-large Round Table combo pizza in one sitting, or spending an evening in front of the TV with a half-gallon of Dreyers' Mocha Almond Fudge eating unconciously until my spoon scraped the bottom of the carton...nope, don't see that happening, because I won't LET it happen, and I have no desire to do those things anymore...my life has changed 360 degrees since then!

and it's all good!!!