Hey gang. Quick question: I know crunches/sit-ups are great for reducing your mid section (which you need to get rid of before toning abs), but will adding a weight to the exercise increase the fat-loss, or speed it up (i.e. holding on chest while performing crunches)?

Use the search function and find topics on "abs" "fat loss" etc...

just to start you off

"I know crunches/sit-ups are great for reducing your mid section"

Wrong. do sit ups and you'll add muscle, muscle is heavy, you'll get a bigger "mid section"
You wanna loose it? dont post in the weight lifting forums, try health and wellness, weight loss, personal training, fitness...

Do endurance exercises like running and cycling. That will help burn off the calories which will reduce ur midsection.