I got dunked today to see how my body mass was distributed. The test is pretty cheap at $35 and takes about 15 minutes.
In 2005 I had my first analysis and weighed 179.5 pounds at 68". My body was 82.3% lean and 17.7% fat (~32 fat lbs). For my age I was only 60th percentile and was considered "good".
In contrast, today I weighed in at 175 lbs and still 68" (darn, no growth). My body was 84.4% lean and 15.6% fat (27.2 lbs). For my age I was 85th percentile and considered "healthy". Since I moved up in age bracket, by the 30-39 standard I was 75% percentile and still considered "healthy".
In terms of where I'd like to be, it would be great to get down to 170lbs without losing muscle mass, thus preserving power. That would take me down to 13% body fat. Five pounds is not a lot to lose so I'll give it a shot by reducing 1lb per week. I already use a food log each day and my resting metabolic rate (as determined by the test) is 1950 calories per day.
So, on workout days it is about eating right and going for a 500 calorie deficiet. On rest days or non-workout days, it is just a matter of not overeating and keeping the junk out of my mouth.