[puhalu]

I'm well-versed in this stuff. I used to run a rehab program (cardiac and physical), managed a fitness center, and trained pro athletes (my advice is solid, guaranteed).
Here's the skinny:

Hmmmmm, that chart says weight loss rate should be 60 - 70% of max heart rate.............I was told it should be between 75 - 85%.

This is debatable and varies among different people. If you're just starting an exercise routine, the most important thing right now is to find a program you'll stick with (5 X per week 30 minutes minimum is ideal). You can adjust the duration/intensity after a few weeks.

So I did 3 days last week on my eliptical, 30 minutes keeping my heart rate at about 150 on average. Plan to do it 4 times this week, and continue at 4 times per week.

Frustrating part though is I have not lost any weight. I am not super strict in my diet, but I really don't eat a lot of crap at all, except some on the weekends. I am 6'-2", and weigh just under 220. Ideally, I'd like to get down to 200, 190 at the most. Thing I hate the most is having a size 40 waist. It used to be 32 in college.

I am very results-driven.............if I don't see anything soon, I'll be pretty disheartened.

1 week is WAY too soon to see any results. If you want to lose weight the right way, you won't notice any significant change for AT LEAST a month. Think about it this way: you didn't put on all the weight in 1 week, or even 1 month, right?
Your body just doesn't store or metabolize fat in large quantities overnight.

I would suggest that you focus on the the routine, not the results right now.

Here's a question for any exercise experts;

If I am exercising with the goal of keeping my heart rate in my maximum fat-burning target zone, does it make any difference what the actual exercise is? Someone told me that the best cardio exercise is the good 'ol treadmill, but I am thinking that as long as the heart rate is where it should be, then it doesn't matter how you get it there, be it bike, elliptical, or whatever.

Can anyone shed some light on this?

Exercise type most definitely makes a huge difference as far as fat metabolism. Weight-bearing exercise is more effective (walking/running is best, swimming/cycling are least effective). Your body works harder to counteract gravity on a treadmill. Buoyancy in a pool and a saddle on a bike are crutches that support some of your weight. Ellipticals can be OK, but only if used properly (ie no leaning on the handles). Also, you cannot discount the vertical component of running. It takes energy to leave earth with every step. This is the best exercise.

You should also consider some weight training. If you increase muscle mass your basal metabolism will increase quite a bit because your body is nourishing that tissue 24/7. You don't have to train like a body builder to get the benefits. Even moderate resistance training will help a lot (ie push ups, sit ups, etc in the basement).

If you have more Q's, I'd be glad to answer here or by PM