Disagree Derke - It does matter b/c that's going to determine what kind of focus one can do. If you need to drop a weight class to compete in a sport, you're going to have to be careful you don't compromise your performance.
If you want to show some abz and don't care about performance, then you will have other options not available to the above competitor example.
When I hear about getting serious about losing an amount of fat, my mind goes to lifting, walking and diet control - the kind of thing that wouldn't work on Charlie's hyper schedule, but would work for me since I'd be willing to sacrifice somethings like "conditioning."
So Chuck - fat loss, strength, conditioning, all that crap - I think it's too many foci. Fat loss and maybe one other for a bit would be my 2 cents.
"Morning, Putski eats it, noon, Putski eats it, night, Putski eats it. Putski loves!"