I'm not currently signed up on Weight Watchers, I was on the Online program it last year, but cancelled it and then fell off the wagon.
Instead, I've been tracking calories on loseit.com since April and have been following an 1800 calorie meal plan with my doctor's supervision for the last month and a half. For me, I find calorie counting more tolerable then point tracking.
So far, since April I've gone from 315 to 293 as of 6/17 (Sunday is my weigh-in day), for a loss of just around 22 pounds. My first goal is set at 250, then I'll probably set additional 15-20 pound goals as I head down, reevaluating as I go.