Well without even looking at your goals, this routine isn't optimal for just about anything.
Body part splits where you train each muscle group once per week are shit. You need to hit your muscles more frequently than that. I'd stay off the
bodybuilding sites like that. For the most part they suck in terms of information.
In relation to your current status, your primary
goal is
fat loss at the moment. You have a large chunk of additional
fat you'd like to shed. When that is the case, muscle loss isn't much a concern for various reasons we won't get into so 2-3 days of full
body training would be ideal for you. This has been discussed to death in the stickies... I highly suggest you read them.
On top of the handful of weight training sessions, I'd do
cardio as much as possible. If that's 3 days per week, great. Five... even better. Nothing crazy... build up a base of cardiovascular conditioning. Pick your method of choice... at your size I'd say something lower impact would be best for your knees and focus on an intensity that doesn't leave you gasping for air throughout the bout.
I'd also highly recommend you read my blog interview with Lyle McDonald, specifically this part:
Lyle McDonald Interview Part 2 (Applying Resistance Training to Overweight Populations) «
Any specific questions?
