I count calories and weigh myself every day. But I'm basically at my goal weight and want to lose 5-10 "vanity pounds" so I think because of that I need to watch things much more closely than if I had more weight to lose. (does that make sense?)
I use Fit Day to track my food intake and made myself a great diet journal using a Day Timer binder where I track all of my workouts. On a monthly calender I write down each day what I burned, weighed and ate, and then average that out at the end of each week. Over time I'm then able to see what affect certain things have on my weight. Like, If my calorie average is high for a week because of one or two bad days, I'm able to see that reflected in my average weight as well. I think because what I really look at each week is my average weight, I'm less likely to get all freaked out from one or two days of higher weight. It works for me anyway.
My stats, in case it matters: I'm 33, 5'8 and 144 pounds. I'd like to stay at 140 and IF possible and not too crazy-making, get to 135. But I'd be happy to just get and stay at 140 for more than a few days at a time.

As far as calorie intake, if I don't exercise that day, I try to stick to 1500. If I do exercise, I'll either eat 1500 + whatever I burned off OR, just try to stick to 1600. When I'm strict with this it does work, but of course I blew it over the holidays. I workout M-F for one hour, doing 30 minutes cardio and 30 minutes weights 4 of the days, (2 days upper body, 2 days lower body) and one hour cardio on the 5th day.