whats the best way to lose weight?

Eating less calories then you burn is pretty much the only way to lose weight. Whether you do that through specific diets, surgery, smaller portions, or increased exercise, it comes down to decreasing calorie intake.

There is no magic bullet, despite what the infomercials tell you.
Any diet that is successful, however it is packaged (weight watchers, south beach, atkins...) all come down to eating less. They may put more emphasis on carbs, fats, how many meals etc....but the bottom line is if you follow the diet..you will lose weight.

You can try to out exercise a bad diet, but that almost never works because people tend to lose motivation to exercise easily (in particular if it wasn't a habit for you in the first place).

So the best advice is to read read the 'guide to sexypants' article in the introduction section. It is pretty awesome.

The basics come down to this.
1. find out what your body needs to stay at its present weight
2. Eat at a modest deficit from that (about 500 cals per day less will lose approx 1 lb a week). You can eat anything, and I do recommend not getting too restrictive because you want to do this for life, not just for a few months.
3. Do some cardio to burn a few extra calories (see my note above about this)
4. Lift some weights to ensure you don't lose muscle mass as weight is lost. This will ensure your metabolism stays where it is (or increases) since it is tied to your size...muscle burns calories...Do not worry about overdoing it, muscle is hard to grow and you will not look bulky unless you dedicate years to it and work your *kitten* off.

Fortunately MFP sets all this up for you.
Good Luck