I am not sure about Lou's math unless you are burning a LOT of calories each day during exercise. At 6'1", 210, my maintenance, without exercise, is about 2450, so that number may be about right. But, to lose a pound a week, you need to be at a 500 calorie deficit below your maintenance. For two pounds a week, you need to be at 1000 below your maintenance. So, in order to lose a pound a week, you would need to have a NET calories (after any exercise or metabolism increase burn) of 1,900. So, you if you eat an additional 1000 calories above maintenace, at 3,400, you would need to increase your metabolism burn by 1,500 calories a day. Now, assuming you can burn 600 a day doing cardio and lifting, is the increased metabolism from eating and afterburn going to make up the 900 calorie difference? I don't think so. Even Lou agrees that the metabolism increase from muscle tone is not as much as people have said.
I have lost 55 pounds in the last five months. What I did was start with my maintenance for "sedentary", which was 2,700 when I was 265. Then I subtracted 1000 for a weight loss of two pounds a week, so a NET calorie goal of 1700. Then each day I added my calories in from food, subtracted my calories out from exercise and tried to hit my 1700 goal. I made sure not to go too much under or too much over. I used a program called CalorieKing to keep track, which is like Fitday on steroids, a lot better.
About a month ago, I started hitting the weights, and wanted to slow down the pace of the weight loss, so I began ramping my calories back up slowly (your metabolism will slow down somewhat), and now I am at 2000 a day NET (which means I eat around 2300 a day average). I am still losing a bit since I am still at a deficit.
I would not recommend the 1000 a day deficit since it does impact your metabolism a bit more, but 500 is a very healthy target and you will still lose a pound a week. It is very difficult to guage the impact of "afterburn" and metabolism increase from eating, so if you choose 500, then you might actually be at a 600 or 700 deficit if you are lifting.
I do agree entirely with Alwyn and Lou, though, that the HIIT is a better way to go than steady state aerobics. I played basketball, which I consider an HIIT, and I think that had a bigger impact than my steady state.
To show that this all works, here is my before and after, before I really started lifting (and about 10 heavier than I am now):
