My belly was always the thing I hated the most and it was mahoosive!! (56 inch waist) I now have a 28 inch waist and while there are some lumpy bits and plenty of saggy skin, if I wear the right clothes and more importantly, the right underwear, it looks like I have a flat tummy. Nobody would ever know apart from the people on the beach when I wear a bikini.
Keep working at it and give it time (at least 12 months I'd say). Then if it's still a huge issue you could look at doing something about it if you feel that's the route you'd like to take.
It's different for everyone I think but ultimately it's about what makes you happy.
Don't forget, those Armani pics of Victoria Beckham.....soooooo airbrushed, especially her tummy which unsuprisingly has stretch marks after three babies. Even the most photographed woman in the world at the moment has the same body hang ups as us!!