That's the best way, imo, and every minute of any sort of exercise helps. You're also doing it much more responsibly than I did when I dropped myself down from 210 many years ago. There was way too much fasting involved. So I salute you!
For what it's worth, after attending a pair of hot tub parties on March 4th and considering the meat-waning effects of my torn rotator cuff, I decided to drop down a bit in overall weight (because, argh, too many of the dudes at that party were ridiculously flat-bellied!). I'm about ten pounds down now (~143.5lbs) and plan to plateau at 140. I find very quaint things incredibly tasty and don't need much in the way of variety, so I've been living off of nutrition bars, turkey and cheese sandwiches (coincidentally, about the same carb/protein/fat mix as the bars and about the caloric value of two of them, so it's easy to math everything out), and those 1080kcal macaroni and cheese boxes with the creamy sauce.
Since early March, I've been using the ab machine at my dinky community center gym. I can max it out pretty easily, but I've found that setting it to a low weight like 117.5lbs enabled me to use it as a cardio exercise, and I can go at it for as long as forty minutes. At a party this past weekend, I was convinced by a possibly insane runner (she does hundred milers, multiple times a year) to try running again. I used to have a ton of plantar fascia issues, but it turns out that all I needed was to get a pair of running shoes and not run with crappy sneakers, which is what did me in previously. So I jogged 1.5mi Monday and 2.5mi Tuesday. Wednesday will be rest (on account of Mum's birthday and my school), but I'll see if I can up the ante on Thursday.
I should hit my target weight by Easter, wherein I'm throwing a 2am party for some shadowcasters and then probably having a feast with my family, so I'll have to re-hit it the next week. This weekend is an SF convention, but fortunately it is not the kind that gives out tons of free food, so my progress is safe. ^_^