Yes, this is realistic.
Its recommended that to maintain LBM while dieting, not to push it past 1-2 lbs of weight loss per week as some muscle loss will occur. The more fat you have, the less this is likely to happen. People with a serious weight problem can lose a lot of fat and not a lot of muscle.
If you are carb-sensitive and want to make sure that you lose bodyfat and not muscle, the T-Dawg 2.0 protocol is great (or some variation). If you limit your carb intake to post workout and keep carbs to a minimum on "off" days you should make some good progress. As far as the numbers are concerned, there are people on this board that will probably help you out and have the correct ratios already worked out.
A couple of things that will help:
Do cardio first thing in the morning for 30-45 minutes on an empty stomach. Take ECA/caffeine and Acetyl-L-Carnitine about 30 minutes beforehand. Do this every day; maybe 6 days a week. Its not tough to get up and do something like some kind of speedwalking, jogging, treadmill or bike. This doesn't have to be HIIT (as a matter of fact, this is supplementary to your "true" workout), just moderate. Since this isn't anerobic, you shouldn't be burning off muscle or causing a catabolic response in your body; this means its probably ok to wait 45 minutes to 1 hour before your first meal.
At this point eat normally until your workout. Have about 100 calories of some healthy carb (a low-GI fruit for instance) and then hit the weights. Immediately afterwards, have your dextrose/whey drink (Surge is pre-made for you) and consume it, diluted pretty good, over the course of about 20 minutes as to not overload your digestive system and slow it down. Perhaps 90 minutes later, have a sensible carb meal with protein/carbs and no fat. Take R-ALA with your carb meals as it will encourage glycogen storage rather than fat storage.
On your off days its probably best to keep carbs to close to 0 or have 1 meal in there that has a minimal amount; maybe 25-30g. This isn't much. You are talking about a small scoop of brown rice or something here. Get your cardio on this day, probably HIIT to keep it short and sweet (this on top of what you already did in the morning :-)). Of course, it can be another endurance session too but HIIT is effective and its different than the morning session... probably good to switch stuff up as much as possible.
Those are just a couple of ideas... as far as weight training, do what works. If EDT is working for you, keep it up! If you stall, switch it up for another program.
I'm sure there are plenty of people that will chime in here and provide more useful information, corrections (:-)), or numbers for you.
Good job and keep it up!