Saint, I've lost weight the "quick" way 8 times before -- believe me, it just doesn't work, at least for 95% + of the people who do it that way.
An added virtue of losing it slowly, with lots of exercise, is that you have time to make new habits. They become ingrained in your way of life, and that's crucial to long term success.
Previously, I would have set a goal for myself of losing 8 or 10 pounds a month; this time it's only 2 pounds a month, and the transformation is taking over 2 years to complete (I hope to be there July 2008).
Also, to do effective cardio and weight training, you NEED those calories. I think people are fooling themselves when they create a drastic deficit, because I don't believe they really can be nearly as effective in the gym. I do some incredibly intense cardio sessions that would be impossible without having enough calories.
And it's not just our society -- it's all the food manufacturers and the big pharma companies who are in on this "conspiracy." They all make gobs of money, ironically, by encouraging people to lose weight by starving themselves. They know the effects will be temporary, and they'll have customers who are more addicted than ever.
Food processors and big pharmas are the new cigarette companies in that respect.