Is circuit training effective?

I'm trying to figure out which routine is the most effective for me and my goals.  I am 5'3 weigh 126.  I would like to drop 10 pounds, gain muscle, loose fat, and tone up.
 
I have read Body For Life in which I complete 4 sets (12, 10, 8, 6 reps) with increasing weight.  then drop down the weight and do a set of 12 followed by another exercise (same body part) for a set of 12.  They have you workout upper body one day and lower body the next day.
 
Another program that I've seen is the Fitness Made Simple.  They do supersets or one chest followed by back and then repeat.
 
Basically, I'm looking for a fat burning weight routine.  I do like the idea of circuit training and it seems to work all right, but am I getting the most out of my workout?

I wasn't really specific in my last post.  My question is about circuit training.  I have a program that does 2-3 sets, 10-20reps of one muscle group and then moves onto another.  It works Quad, Glutes, Ham, calves, bi, tri, back, and chest everytime.  I wear a heart rate monitor to make sure I'm working at my target rate, but am I actually doing something.  I feel sore the next day, but I want to loose fat and gain muscle.  Any help would be appreciated.
 

It works for me. Better than concentrating on one muscle group a day for 45mins anyway. (From my, experience)

I've written down everything I do in the gym on a card, and write down the weight aswell.

After 4 or 5 sessions of doing the same things, I up the weight. But only if I feel that it is time. I never rush anything.

Last time I rushed into anything I screwed my back up. That, was 3 months ago, and I'm still unable to do all the exercises I want now. It's just not worth it. So just make sure you don't feel too sore then next day.

A whey protein shake taken throughout and after the workout really makes a difference aswell. It doesn't need to be massive. I never go to the gym without one now.

Best method for losing fat I know of is literally just to go on the treadmill, crosstrainer or just a running ground and do a slow but long jog, or even a fast walk. If you start to feel strain on your heart or legs, slow down a bit. You're trying to burn calories not do a strength workout. (Which will burn less calories, just build up strength in your legs)

Danny - Kent, U.K

Age: 18
Currently: 135-140lb
Target: 160-165lb before I'm 19.