Rosinante- thanks for keeping track of all of this for us! I like numbers too, so thanks for the percentages MadamButterfly, that's a neat way to look at it!
I found a body fat percentage calculator and was comparing my weights with measurements since I started keeping track of the measurements at the beginning of November. I was pretty happy that my body fat % has decreased linearly with my weight, so I'm happy with the balance between gaining / losing lean mass and losing fat. Actually, according to the formula I have gained about 5 pounds of lean mass in the last 4 months. Yay muscles!
The muscles are definitely a good thing, because I got depressing news from my orthopedic surgeon on Monday. I tore my ACL about 6.5 years ago when I was at my highest weight (245) and it has been one of the issues I have struggled with in terms of getting active and getting healthier...and a big part of why my goals are more oriented towards being able to do things, as opposed to just losing weight.

Turns out that surgery #2 which I had 8 months ago to fix my ACL has also completely failed, so my muscles are largely responsible for helping keep everything in place when I'm running around. It was a very frustrating visit, but I got to follow it up with a shopping trip to an outlet mall to replenish my closet with some clothes that fit me better, so at least that cheered me up a bit.
But let's see... Spring is 3.5 weeks away. The weather here in Iowa has been taunting us going back and forth between being nice and being winter, but I would love to get outside more! I have been working on the C25K program but definitely need to do an intermediate sort of step between week 3 and week 4 to help get myself to the next level. So I think my goal will be to get outside and find a 2 mile route, and walk/jog it in 25 minutes. My best times so far have been about 15 minutes per mile, so that should definitely give me a challenge.