BFL seems to be a great program...for beginners!
After 6 years of slowly turning into a pile of pulsing fat and chub, I started back to excersise with BFL and it really helped me drop pounds...to a point.
Once I felt my body was trained enough to take on a more intense program of weights, I dropped the BFL altogether and made more gains/losses. Currently I'm at 13% bf and I'm happy with that for now (considering I was somewhere around 26-28% for a male). Any lower on the bf would involve a cutting program. And really, why would I do that if I'm not competing? Maybe one day just to do it once.
If you are starting back or just starting, BFL is an excelent way to start! Beyond that...read this board. You'll get better info and programs than the BFL.