I'm not a much of a man as you (physically), but I went from being a serious competitive cyclist in 1992-2004 (160-162 lbs) to treating my body like crap, getting no exercise, and putting on nearly 50 lbs in 7 years.
At the start of 2012, I made a commitment to myself to get back into some sort of decent physical condition again. I have no desire (or available time) to go back to being a competitive cyclist again, but I want to feel athletic again. I started running and lifting weights. I only have 1-2 days per week available where I can squeeze in an hour of exercise, and some weeks it doesn't happen at all, but I've continued to stick to a regular a routine as my life will allow. I also made some adjustments to my diet. During the week, I make better choices about my food (smaller portions, no fries, chicken sandwich instead of a burger, etc.). On the weekend, I allow myself to relax and enjoy my food.
For me, these adjustments have made a difference of 20 lbs over the past 9 months, and I don't feel like I'm starving myself. I'm more interested in losing weight slowly with a plan I can maintain (a lifestyle change) than losing a lot quickly, and putting it back on because I can't stick to the program.
I've never been much of a runner, but I have stuck with it while my body has protested loudly. I've always had the willpower to endure the suffering of physical exercise, and the first couple of months was definitely a trial of determination for me. Currently, I can easily run 3 miles (just under 30 minutes), and have done a max of 5 miles a couple of times. For "real" runners, it's not much. For me, it feels good to have a growing level of fitness and feel active again.
An early tip I got from some runner friends: Get good socks.
After wearing just some simple cotton socks for my first couple of runs, I was immediately hobbled by some nasty blisters. Proper running socks put and end to that problem immediately.