Vinny first a couple of things.
Unless you are a newbie...and you said you have been lifting for a year...so I will take you are not a noobie then you most likely want to concentrate on bulking or loosing weight.
Its hard to mix the to together unless you are genetically gifted or on steroids or you are a complete beginner.
That being said if you are wanting to loose 40 more pounds then what we needs is a calorie deficit. Its just that simple...not matter what routine you do there has to be a calorie deficit.
So if it was me the best way to burn calories IMO...is two ways.
1) Good ol boring cardio...(but it works)
2) full body workouts
3) full body workout compound circuits.
So What I would do if I were you this the following.
Do the simply and win routine 3 days a week and mix in some cardio on the other days!
Personally with the weight training all you are trying to do is hold onto as much muscle as possible while cutting.
So something that I have had a lot of success with is this.
Take a standard HST routine of say 30 reps....or 3 sets of 10.
Normally I would do 3 sets of bench...followed by 3 sets of rows...etc.
But for fat loss...I do the following.
One set of bench with about 85% of my max. I then move on to Back and do the same then on to Shoulders.
So far we have done one for each bodypart for the upper body.
Then here is what I do from there.
I set of 10 reps with my 12 rep max...as soon as you finish the set go straight into standing barbell rows...immediatly finishing that set you go straight to standing dumbell presses and then thats 1 circuit.
I perform another circuit after 1 to 2 mins rest and then I am done with upperbody.
I then perform 2 to 4 mins of 20 rep legg presses tabata style.
If you do this 3 days a week IMO...the first set or so maintains muscle mass (its heavy) and the other sets burn the hell of of calories and revs up your metabolism without having to do cardio.
Then the off days you hit some cardio maybe 1 day is slow cardio for 1 hour the other day is HIIT cardio.
This should definatly work in the fat loss dept.!