Slow and steady works. Rapid and fast works also. Different tactics are needed for the different strategies. Your hunch that carbohydrates are important is indeed correct. The protein sparing modified fast that I was on, as outlined over at http://bodyrecomposition.com suggests strategic re-feeds incorporating starchy carbs once you get do more reasonable body fat percentages (e.g., under 30% for males). Lyle McDonald, the author of the site, is one of my favourite experts in physiology because he takes a hacker-like approach by researching studies, skeptically reviewing them, and then testing strategies that he thinks will work. If you peruse his forums you'll find all sorts of people, from athletes and bodybuilders to morbidly obese who have successfully adopted strategies that he has advocated (not necessarily devised).

In fact, Lyle starts off his book on Rapid Fat Loss (his PSMF) by specifically stating that if you can go the slow and steady route, then do so. It's certainly healthier and carries fewer risks. But some people can't or won't, for whatever reason, go slow and steady at losing weight. For them, it's much better to have lost the weight rapidly than carry it around having never lost it. For people like this, he suggests his form of PSMF.