Since you asked...
DIET
The main thing I do in terms of diet is count my calories with an online calorie counter. I keep my diet around 1600 to 1800 calories per day. I also closely track how much fat and sodium I'm putting into my body and try to hit well below the FDA recommended targets.
HOW I EAT
I eat five smallish meals a day (300-350 calories each) rather than just a few bigger meals. I also make sure to get between 8-10 glasses of water daily (12 ounce glasses).
EXERCISE
I had to work up to where I'm at now, but for the last several months I have been following this routine:
1 hour of walking in the morning @ 4 to 4.5 mph EVERY SINGLE DAY.
30-45 minutes of strength training in the afternoons (consisting of reps of lunge steps, crunches, body squats, and push-ups) 5 or 6 days a week.
HOW I LIVE
I treat myself rarely, but for the most part I don't cheat on my diet and I don't take days off of exercise. Getting over the fast food habit was hard at first, but when I started counting calories and tracking foods I quickly found that I didn't want to put the garbage those restaurants largely serve into my body any longer. And even though I've had very sore ankles, knees, muscles, etc. I work them almost every day. Sure I will scale back some exercises to let a specific joint heal, but I've found that the best medicine is to just fight through it and get plenty of rest. Speaking of that, I try to make sure that I am getting 7-8 hours of sleep every night and 99% of the time I do. If you aren't getting enough sleep your body has a hard time losing weight.
That's it. Really simple. Really Spartan, but also really effective. I am burning about 3,600 calories a day so losing 3-4 pounds a week has been very achievable. I need to lose 33 more pounds to hit 200 pounds. At that point I will begin a new diet to slow the weight loss and will scale my exercises accordingly as well. In the end I'd like to be able to maintain at somewhere between 180-190. That suits my 6'2" frame and isn't so skinny that it makes my wife cringe.
In two weeks I go to the doctor for blood work. I am anxious to see where my cholesterol, triglycerides, etc. levels are at. Hopefully my insides have improved as much as my outside.

I know that I look better than I did 15 years ago and I feel better than I've ever felt in my life.