If you want to improve your arms, 5# and 45 reps won't do it. Eat right & do your cardio, but also look into doing real lifting 3x per week. Aim for three sets of eight using a weight that leads to exhaustion, while still allowing for good form. At the very least, start doing push ups, dips, & reverse pull-ups. Expect to be somewhat sore the day after your workout. As your muscles grow, the skin on your upper arm will look smoother and more taut.
For some good advice about why women should lift and how to do it, read
The New Rules of Lifting for Women: Lift Like a Man, Look Like a Goddess.