Weight Lifting Vs. Cardio???

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Started MFP 12/27 I have lost almost 30 lbs since. My "routine" consists of 1600 Cal a day, running on the treadmill 2-4 miles 3-4 times per week. It is working well, however I would like to begin building some muscle (more tonning than anything). I realize that muscle helps burn calories so that is part of it, the other part is I have some flab (moobs, love handles, small spare) that I would like to burn off, and have been told that muscle building will help speed that up. (not speaking of "spot training" as I know that doesn't work). This is the work out plan I was looking at but not sure if it is enough / to much / should I add a little more cardio... etc... your opinions would be appreciated.

Thanks
Dan

3 sets to failure trying to get to 15-18 reps

Day 1
bench
Incline
dumbell bench
skull crusher
cable pull downs (isolating triceps not sure what you call it)
tri extenstions
cardio 30 min

Day 2
squat
crunch
calf raises
lying leg raises
leg extensions
air bike
leg curl

Day 3
standing curl
seated row
deltoid raise
preacher curl
barbell deadlift
alternate hammer curl
bent over barbell row
concentration curl
arnold dumbell press
30 min cardio

I am thinking Monday Wed Fri with the above, doing some cardio on Sat and Sun - I like to mountain bike, and run outside when the weather is good, maybe some treadmill and racquetball right now...