I was doing five meals a day for the first eight to ten months. As far as I can tell, all it did was help me manage my appetite. I was only able to do it because I worked from home. Eating that many meals is not convenient when you're away from your home most of the day.
I never tried to go as low as 1400, but kept it between 1600 and 1700. Was till able to knock off 35 pounds in a little over six months. Haven't counted calories since and have maintained my weight for over two years.
Allow yourself a binge day every week. It's fun and it helps you stay sane for the rest of the week.
If you're a frequent snacker, replace your chips with nuts and fruit. Pretzels are better than chips, but you still have to watch your intake.