Fat loss is just a matter of having a caloric deficit, this isn’t news (or at least it shouldn’t be news to you). You can create the caloric deficit 3 ways.
1. Caloric restriction
2. Increasing activity/exercise (without conscious attention to calories)
3. A combination of the previous points
Regardless how you create the deficit the fat loss with be the same. It’s probably easiest to focus primarily on restricting food intake and consider any extra exercise induced fat loss as a bonus.
Cutting 500-700 calories in a day is much easier than trying to do 500-700 calories worth of exercise.
So even though theoretically you could try to create a deficit with exercise alone, it is only as effective as your ability to maintain a consistent calorie intake close to BMR.
In other words, you can easily out eat a workout session, but you can never out workout an big eating session (but I think this is what so many people in the gym are trying to do)
The actual pattern of fat loss will be the same no matter what you do to get there, so it’s just up to you to find the best solution that fits with your life. I suggest Eat Stop eat and my soon to be coming out book (shameless plug! 🙂