Software for Cyclists
Join Date: Dec 2003
Location: Redding, California
Bikes: Trek 5200, Specialized MTB
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Eat less, eat right, and have patience.
It's very difficult to answer your "what weight will I settle in at" question, because:
a) measuring daily caloric intake is not always accurate or possible.
b) measuring daily calories burned is nearly impossible (it can only be roughly estimated based on your age, weight, gender, and level of exercise).
c) your Basal Metabolic Rate is also only a rough estimate.
The only real way to lose weight is to eat a little less, exercise a little more, or do some of both. Give it another week or two and if you're not seeing results, focus on cutting down your portion sizes and/or increasing the length of your workouts (especially your aerobic workouts...those burn more calories than lifting weights).
As for a "target weight", if you want to improve as a cyclist and you're not built like The Hulk, aim for a Body Mass Index of 24 or less (or, a body fat percentage of 10-15%).
Mostly, have patience...you won't lose it quickly, especially at age 60.