sounds too uncomplicated.
If you are wanting to burn fat, Peter, it really is that simple. Pick up an exercise bike (suggest second hand) or running shoes and heart rate monitor. The heart rate monitor is critical. Try to work up to at least 3 hours per week in either running, cycling or swimming, but, you really need to have the heart rate monitor to make sure you are working hard enough yet not too hard. I have had pretty good results running in a hilly area keeping my heart rate fluctuating from 70%-90% of max.
Take a look at Courtney's site too, she's probably got a program just for this purpose.
Like Jon said, once you get a good base of fitness and lose superflous fat, you can build on it. But that's where I'd start.
And deadlift, lots of deadlifts.