There was a thread not too long ago that hit this pretty heavily.

Goal Weight...

The general trend seems to be that people pick a weight at which they remember being happy. But that's a starting point - or should be. As you lose weight and start getting even remotely close to your goal (which you could just pick off the first chart you find as long as you are willing to change it as you reevaluate it as time goes by) you should start asking yourself the following questions:

At my present weight, to I feel I need to lose more?

If so, why? Is it because of comfort? Appearance? Fitness? Sense of well being? Because others seem to think I'm still fat? Because I don't like the number on the scale? Because I still can't get into the clothes I want to?

Be brutally honest with yourself and then ask if the reasons you want to lose more are healthy and rational.

If they are, then try to lose some more.

My goal is based on what I weighed in high school when I was very fit and very happy. Is it an appropriate weight for me now? I have absolutely no way to answer that question until I get in that vicinity.

One thing that is very different is that my lean body mass is considerably more than back then - you don't carry 380 pounds around for several years without building up considerable muscle mass in the lower body. But do I want to keep that muscle mass? I don't know. We'll see as I get closer.