No need to eat lots of small meals.
In fact in my experience it's totally counter productive. Better to eat twice a day, and be reasonably satisfied, than to graze and be constantly reminded of what you can't have.
I am a greedy git (also bread-powered!), and my "reward" for being self indulgent is a period of lean eating once every year or so when I hit the top of my comfort range. Normal (ie sustainable) exercise doesn't burn off much fat (I believe you have to run from London to Birmingham to burn off about 1 lb of fat). It's keeping your body warm, heating up all that water, which fires it off (unless you are a slave chained to an oar on a Roman ship).
Exercise is obviously good though. I prefer walking because (a) it's easy, and therefore easy to motivate yourself to do (b) it's pleasant at this time of year, despite the summer temps already (c) it's free (d) it doesn't ruin your knees and (e) it gets you out of the house for long periods away from the fridge.
Unless you're walking past McDonalds of course.
Other assorted tips....
1) Porridge for breakfast/lunch. Tart it up with dried fruit or a posh muesli.
2) Clean your teeth straight away after eating.
3) Avoid fat and sugar. The less you have, the less you miss it and the more you enjoy the natural sweetness of fruit & veg. (Having a little of what you fancy might do you good, but it also reminds you of what you can't have).
4) Eat as much fruit (not bananas!) and veg as you want.
Ok, got to go, but something there might be useful... though if you're cutting down for a long period (rather than the two or three weeks I need every year) it's less sensible to cut out all fat (apart from omega 3 type supplements). It certainly works for me, but that doesn't mean it'll work for everyone.
Andrew McP