It still matters, a few calories a day for a year ends up being pounds of weight, but adjusting calories out of the diet is going to be a better first strategy.
I just spent the last several minutes reading reputable sources and they all seem to agree with you. In fact, they indicate a pound of muscle burns more like 6 calories.
You win, Internet.
I find that surprisingly low, and that's even if we're talking 100% sedentary here.
In fact, the muscle-building type of exercise (lifting) is hilariously bad at burning any kind of energy. Here is a rough estimate:
http://www.wolframalpha.com/input/?i=(30*500)kg+.5+meter+aga...
Longer cool down periods (3-5 min) helps build strength faster and let's each set be more anaerobic and higher weight, but short cool down periods and slightly lower weight adds endurance and strength, plus more repetition.
The other benefit of aerobic weightlifting is you can better learn to minimize anaerobic activity. Full power all the time seems great, but being dead on your feet in 30 minutes is rarely useful.
That doesn't change the calculus, obviously. I can easily sustain 150W for an hour on a bike, I can't lift 225kg half a metre against gravity 500 times (the equivalent).
(The idea here is that you try to back up lofty claims with some science numbers.)
Start playing with the numbers and Weight lifters can get into crazy high energy diets.
PS: Works out to around 110kg / ~.82 ~= 135kg max lift. At 230 lb the record is 246 kg so it's not that unreasonable a goal for a fairly large guy.
Meanwhile, you can do 150W on a bike all day, just keep adding CHO.
Rowing is a good example of this, but as 110kg is easily twice the power output of biking you can drop down to 50% max lift range and be limited by oxigen not mussel damage.
Or put another way top weightlifter need to eat significantly more than top bikers who top out at around 8k cal per day.
Not all exercise is created equal. Exercise that doesn't build muscle is indeed ineffective at burning fat. But exercise that DOES build muscle has a compounding effect on burning fat. Your muscles require more energy to maintain, so they will burn more calories just by existing.