I'm (obviously) a new member. A few deets about myself before I hop into spiel....
5'3"-5'4"-ish F, 128 Lbs., 24 (coming up on 25 faster than I'd like to admit). Ran in high school, then had a baby at 18, completely lost will to live, and let myself get horribly out of shape in the sense that I've continued eating as if I have the super high metabolism I had in teens and resolutely ignoring how hard it is for me to run a mile. I've worked an office job for the past 5 years, and it slowly but surely did a number on me, as I'm sure many of you can understand. To top it all off, I periodically struggle with some depression issues, nothing really super severe, but enough to throw me into that place of wanting to sleep all the time and just generally feeling rather shite about myself. I'd attempted to get into a normal work-out routine a few times during college, but it never stuck mainly because I've always looked slim and equated slimness with health. Obviously not the case, but it took me awhile to realize it!
So, I had this "ho ho holy shit" moment over holiday when I hopped on a scale (something I've always avoided doing) and the number staring back at me was 128. Last time I remember weighing that much was when I was 8 months pregnant! Luckily, I'd just signed up for some affordable health insurance (thanks, Obama!) and included in insurance program was a gym reimbursement scheme where I'd get membership fees refunded if I went 50 times in 6 months.
Getting down to it now (finally, you think) I've been hitting the gym every other day and restricting to a 1200 calorie/day diet. Drinking an average of ~48 ounces of water per day, absolutely no soda, energy drinks, iced coffees (*sob*) or alcoholic beverages, natch.
An average day of food looks like this: 1/2 C oatmeal with some raisins, 1 tsp. brown sugar, and a tiny bit of butter with a banana or apple for breakfast (plus multivitamin and 12 ounces of water), whole wheat bagel with 2 T cream cheese and carrot sticks/hummus for lunch, and whatever the is laying around for dinner - usually some sort of protein mixed with pasta or in a soup with salad on the side and a piece of fruit for desert (or no desert at all).
Gym is usually a mile on the elliptical to get heart rate up (sadly, a mile takes me around 11 minutes to complete), average heart rate for this tends to be in the 160's. Then, I do whatever I'm focusing on for the day - arms, legs, core and back, whatever. Right now I'm using machines only as I'm trying to build up strength (which is next to nothing), and I'm executing some whimpy squats and planks throughout the day at work as a break from sitting on the computer. lifting is basically 3 sets of 10 reps at whatever weight I can feasibly handle. On the first set I get through the maximum amount of weight I can handle (around 50-70 pounds for arms and back/abs and up to 90 pounds for legs) and then I taper off to a slightly more manageable weight for the rest of the sets. After whatever weight I did, I go back and do cardio for up to half an hour, then finish off with some stretches to try and limber myself up.
Thoughts on this? Any input and ideas for how to maximize the effectiveness of workout would be greatly appreciated

yes, I know free weights are the way to go but I'm so damn intimidated by them, plus paranoid that form is going to suck and I'll end up hurting somewhat sensitive back. goal is to be doing free weights by the time I've been at the gym for 6 months, but for now I'm on the machines.
Oh, I should mention OTHER goals: Lose fat, gain muscle, would really like to flatten stomach.