Damn, you're right. Absolutely, Dave. I was so worried about the over-working that I really didn't see how light she was. Good call. Up to 2 pounds could likely mean you were dropping more than fat. Whatever the case, slow and steady is the way.
I should have paid more attention to the last paragraph. That doesn't seem like a bad weight even for a woman with a small frame. So it sounds like there is not really much fat but what little there is is concentrated in a certain place. Also a lack of lean mass could mean there is a higher percentage of weight from fat. So this means, to me, like Dave, said, slower fat loss. Also I think, going by that, the resistance work is very important to you and it is a mistake to put SO much emphasis (meaning quality of though) into the cardio.
The weight work, should, over time help effect a very nice change in body composition. But I think that diet really is the most important thing as far as getting the fat off the belly. The thing about relying on cardio exercise for fat loss is that it is kind of like the yo-you dieting you are trying to avoid (rightly).
Some people find very little success at all with just cardio. But some women (and I know a couple) go all out with the cardio and drop weight very quickly (and lean mass, probably) getting all skinny and as soon as they are not able to keep up with the constant cardio the fat comes back with a vengeance. Plus the fact that, body comp wise, they were skinnier but didn't really look all that great. Not like Jessica Alba
. So unless you want to be a slave to your body and workout 7 days a week forever, a re-think is needed anyway.