Starting from a position of moderately-but-not-morbidly overweight, I've had awesome results from just focusing on core strength exercises (bench, overhead press, deadlift, squat, chin-up) and flat-out ignoring everything else (not saying you should ignore cardio, I'm just a hater). Since I started lifting "for real this time", about 3 months ago, I've dropped from 220 lbs - 205 (200 if I cut carbs for a few days), and from a 36" waist to 32", and from large to medium shirt size. Now that's only about 15 lbs, but doesn't take into account muscle gains - despite still having plenty of fat to lose, I now have very visible traps, shoulders, biceps, triceps, lats, upper chest, forearms, quads, and veins popping out on my arms & neck.
It is true that cardio and strength training activate proteins that work against one another, and that training at a calorie deficit won't get you as much muscle mass as training at an excess. But both those points strike me as things that should only matter to bodybuilders and runners with dreams of going pro, but are largely irrelevant to the general pursuit of getting healthier, leaner, and stronger. All I know is I'm getting muscley and slimming down simultaneously, so what does it matter if the projected 10 lb muscle gain only ends up being 6.5 in the end, if the overall goal of looking and feeling better is attained?
Also strength training just seems to be a more efficient means of exercise regardless of how lean you are. Cardio burns calories and conditions you for doing more cardio, but strength training adds muscle, adds more calories burned at rest, helps your cardiovascular system too, primes your body to shuttle glucose to your muscles instead of fat stores, and kicks up boatloads of neuroendocrine activity. But that's my limited understanding of the topic.
“The whole concept of a macronutrient, like that of a calorie, is determining our language game in such a way that the conversation is not making sense." - Dr. Kurt Harris