I can't say this is the doctor recommended approach, but here's what I did to lose 150 pounds in about a year, and what has worked best to make me stronger whilst eating similarly.
Low Carb Diet
Paleo, Atkins, Primal, I don't really care what trendy name you want to put on it. Stop eating refined poison, eat lots of meat and natural fats, keep your usable carbs below 30g a day. Usable carbs will be defined as the carbs leftover from the total after subtracting fiber. Eating this way, you will probably feel like ass for a couple days, but it gets better soon.
You will lose a LOT of weight the first week or two. Most of this is water, so don't get too excited. After that first week, the weight lost is no longer from water flushing out, so feel free to throat punch anyone who tells you that you aren't really losing fat.
Losing water at this point is a good thing. The lowered water retention will actually reduce your blood pressure and can keep you off those sort of drugs.
I'm assuming you had your bloodwork done. Eat like this for 3 months and get it done again. I've you successfully kept your carbs low and eaten well, your cholesterol panel will improve a hell of a lot more than cherrios could ever hope to do. Mine personally improved by 1300 points (yes, 1300) in 6 months.
Now to address foods. Don't buy the gimmicky crap yet. Eat meat (not lean meat, if you lower your fat very low on this type of diet you will screw yourself up), eggs, non starchy veggies. No fruit or nuts for the first few weeks. Add things in SLOWLY, maybe in increments of 10g carbs a day, but only one increment per week. You'll find a sweet spot after a while where you are losing weight and fat but have a little more energy and just feel better all around.
As to getting strong, lift heavy things. Thats it really. Deadlift, Squat, Bench, Overhead Press, and Chin your way to victory. Work on getting your form right, and then add weight as often as possible whilst keeping proper form.
Don't be afraid to do cardio too. It will improve your athletic performance, your health, and you are more likely to meet attractive people on the treadmill than laboring away in the squat rack, which is where I expect you to be 3 times a week. Curl in it at your own risk.
Anastas Dimitar Martin