Hi Emma (and all!)
I wouldn't get too depressed yet - I know that your situation might be much worse than mine, but things do improve gradually.
I've lost 5 stone now, and although my skin is a little crepey I can live with it. I had my fourth baby 8 months ago and I have HUGE babies! My first 8lb 12oz (I wrote 8st 12lb initially, yikes!!), second was 10lb 15oz, third 9lb 2oz, and fourth 9lb 9oz. I had shoulder dystocia with the second, who was 10 days early, and so the third was induced at 38 weeks, and the fourth was by c section as I work in a hospital and the consultant obstetrician was a little terrified of letting me deliver normally I think, especially as the 34 week scan estimated I was already carrying a 7lb 7oz baby! Anyway, following the c section I had a very pouchy belly, it was just an apron of fat, I had to grab hold of it and lift it up to see the c section scar and I had problems with this healing, I assume because I was proper porky!! It was rather embarrassing when I had to go every few days to have it dressed, and it didn't heal for a good five months!
Gradually as I've lost weight I've noticed my stomach has stayed as a bit of an apron of fat, always sticking out quite a bit, but finally now it's pretty good!! I've done no exercise yet, so I assume that it might get better still, but I've just tried on a clingy dress tonight and asked my husband if my stomach was sticking out too much, and he said "you don't have a stomach!" He was being very genuine too I think!! ;-) I've never been so slim and as I drop my BMI it's just got better and better, but this improvement has only been really noticeable in the past week or so I would say.
I'm still conscious, because I put a pair of jeans on this morning and had a fleece jacket on top, but it was really quite short and showed off my stomach. Now, I changed, because I hate showing the aprony bit of my stomach from the c section scar upwards. But if I am totally honest with myself, there was no problem and I looked fine before!! I just hate anyone touching my stomach, or leaving it on show at all!
I know your situation might be far worse, but as I say, I've had four kids, and a c section, so I thought I was stuck with it! However, I'm delighted to say that I definitely won't have to resort to surgery. I'm realistic enough to know that at 39 I might not decide to wear a bikini, but I'd look pretty good in a flattering all in one costume, so that's fine!
Now, as for my arms, they I don't like! I would never wear a sleeveless top, but again at my age I think a lot of women have bingo wings, and again, if I'm honest they aren't that bad really, but they do have some loose skin, but I really think that this might tighten up, or I'll be able to do a little to help when I introduce more exercise.
My advice is to keep going and see what you are left with at the end when you've given your body about 6 months to settle - I'd definitely not rush into anything.