Fat can also be lowered to remove caloric intake. Basically all you have to do is cut the calories, keep your protein adequate. 1g/lb should be fine.
Low carbing to staying higher with the carbs during cutting, at same caloric level of course, has some differences though.
I honestly believe, and Bryan has said this once before, that low carbing does burn fat faster. It's not significant, but a little faster.
But you start looking smaller faster. Your muscles will not be holding as much glycogen and water, but you'll 'dry out' a bit, look more ripped, etc.
With having high carbs, the muscles are full (or fuller). I like doing this route. I used to be very pro low carb, until i said screw it i'm following HST's nutrition advice to the T. 1g/lb protein, ~25% cals from fats, rest carbs.
I did that while cutting last summer, and it went great. You don't see that fat cutting as fast as low carb (and also this is due to lack of water retention, not so much more fat being burned), but your muscles remain much more swole. I prefer the high carbs b/c i don't lose the gym energy, pumps, etc., and i don't get as small (until i refeed on carbs).