I'll echo what others have said: Paleo is not low carb. There are paleo guys who advocate 50%+ calories from paleo carbs.
We also don't know what a "good physique" is, or where that would be relative to where you are.
No carb (ketogenic)when done right is a pretty tried and true method for losing body fat (relatively) quickly, while maintaining muscle and strength. On the other hand, it's going to be very difficult to impossible to make significant size and strength gains on that type of diet.