I'm a big fan of gyms unless you are gym-phobic, or just won't go for some reason. My dh is like that, so I work at a gym, and we have a LOT of equipment at home. I really don't think you can get as good a workout at home without a huge investment. That being said, you can get a
good workout at home. The gym affords you a greater variety of possibilities for doing a similar workout, so the "boredom factor" doesn't set in as easily. Tired of doing dummbell squats (and you are fairly limited in weight at home)? At the gym you can do box squats, free bar squats, cable squats, machine squats, smith machine squats, leg press, vertical leg press, and if you belong to my gym and work with a trainer: the weight sled! There are sooooo many more bossibilities. It's the same with every body part. There are just so many more ways to work them at a gym. There are some things that you just plain cannot do at home. I switched to a gym membership when my workouts became unsafe at home. Most people will quickly outgrow 3-5-8-10 pound dumbbells. It's very hard to hold 2 and keep proper form, or not drop one on your head. Ouch.
Another reason to keep your gym membership is to vary your cardio- but the weather is nice now unless you're in the Southern Hemisphere, so outdoor cardio may be an option.
BFL is NOT going to turn you into a steroidally huge body builder. It's a good, basic weight training, cardio and nutrition program. The transformation pictures featured in the book were of the people who had the MOST eye-popping transformations, and most of the "grand champions" did far more cardio, used far more supplementation, and tweaked the program quite a bit. Most of the after pictures were taken after a period of low carbing, dehydration, then a quick carb-up to fill the muscles. I don't think anyone ever achieved a contest body using BFL. BUT, it's a great way to build some muscle (that's what toning really is), learn how to eat nutritiously, and shed some pounds. All good

The other book you might want to take a look at is
Body for Life for Women by Dr. Pamela Peeke. It was written last year or the year before, to address some of the issues faced specific by women during different phases of our lives (sounds like a soap opera

) and how to change our eating/exercise programs accordingly.
Keep us posted whatever you decide to do
Mel