All weight loss programs are good provided you stick to them. The question isn't so much what's good, the question is what suits you enough for you to stick to it. This goes for both diet and exercise. Running, for example, may be a great weight loss exercise but if you hate running with a passion then you're not going to stick to it long enough for it to work!
Look at some different weight loss systems and different exercises and see which one you would find the most appealing.
If you're looking at joining a structured program ask yourself if you like monitoring everything you eat but with the flexibility of a few treats, if you like cooking for yourself all the time or if you like the convenience of pre-packaged meals. If you like the control and flexibility of monitoring your food intake then Calorie King or Weight Watchers might be for you. There's another Weight Watcher's program where you don't monitor that closely, but you eat three meals a day made of 'good' foods with certain points allowed for treats per week. If you cook for yourself and don't need much flexibility then that might suit you. If you prefer someone else to cook then maybe Lite n' Easy will suit you.
If you want to organise your own diet then I recommend reading Steve's post on nutrition
. If you rely on carbs like I do then you might want to look at low GI
as an option. If you hate fruit and veggies and love animal protein then maybe a low carb diet would suit you better.
As to exercise, there is a lot of interest in interval training
now as a way to burn maximum fat. Remember to include weight training every second day to build muscle as muscle burns more calories while resting than fat does. Or look at an exercise program that suits your interest. Some people here love the exercise DVDs 'Walk Away the Pounds'. Others are trying the Couch to 5K running program
. Still others go regularly to their local gym. And some prefer the guidance of a personal trainer.
I hope you find a solution that suits your needs. Good luck!