AC885, good to have you aboard. Sounds like you've turned a corner and have truly resolved to make some changes. Thanks to wrestling and my own self-consciousness, I went from 275lbs to 155lbs in just over a year's time during high school, and I did it in a horribly unhealthy way (some days only a few hundred calories, limited fluid intake, ingesting laxatives and such, sweats and trash bags in a 120F practice room, etc). It's good to see you're keeping your daily caloric intake in the 1500/day range. Just make sure you're getting an adequate amount of protein in your diet (~1.2g per pound of bodyweight, I think), especially with the amount of cardio you're doing. Your body will use anything it can for fuel while you're on a caloric deficit, and protein is a lot easier than fat for the body to breakdown. I lost a lot of muscle mass during my weight crash, and here it is ten years later, and my body (just getting back to some sort of weight and hormonal balance the past year or two) still has a heckuva time putting on lean mass. However, I still look and feel better than I did (after leveling out around 190lbs), and from the sound of it, your situation can only get better. Good luck and feel free to holler if we can help.
Edit: LD
nailed it.