It's never late to be able to improve toning, but as you've already mentioned, it will take longer to see results. The only real reason for this is because the skin is loose, so you won't be able to SEE the muscle definition as it appears, but it will still be there. By the time your skin has time to spring back you should have some really nice tone if you work on it regularly now. That said, I can't say what it'll do with the breasts, but I'm sure it will help tighten up at least a bit...mine never go down, I've lost 95 pounds and they stayed Es :S. However, after my son was born it was plenty to tighten up a very loose belly, thighs, and the extra skin on my sides and underarms. Personally, I don't think toning efforts are ever wasted, getting a dream body is a drawn-out process and continuing toning efforts almost always translates into continuing improvement.