wondering if i'm doing this right?

cardio
30 mins on a bicycle machine at load 6 of 20 (donno how to describe this, as with on a machine at california fitness)

30 mins walking on a threadmill at speed 4.5 and gradient 3.5 (also as on the threadmill at cf)

using some weight machine to work out the triceps (about 20kg X 10 times for 3 sets)

weight machine to work out biceps ( about 20kg X 10 times for 3 sets )

weight machine for sholders and back ( about 20 kg X 10 times for 3 sets )

sit-ups 10 times X 3 sets

current weight 75kg, fat around the stomach.........

currently doing these exercises every other day. am i doing this right? any comments or advise will be very much appreciated......

i was told that what i used to do previously not only burnt fat, it also burnt muscle too! with this new routine, it's supposed to burn fat without burning too much muscle.......is this true?