He's right -- it's all about dropping body fat percentage. I do wish he was not quite so hyper, though it looks like he burns a lot of body fat just by talking fast and gesticulating wildly. I don't think you have to cut out alcohol entirely, just make what few drinks you do have really count, i.e. enjoy them with good friends and not with just whomever from work or just to binge all night. Also I suggest you moderate coffee consumption, since caffeine raises cortisol and that promotes increased body fat. He's definitely right on point, though, an active lifestyle, i.e. cardio, and a good diet. I would add that emphasizing a low-stress lifestyle is also important, as cortisol, the stress hormone, can be reduced through relaxation of all kinds and vitamin C. But excessive, low-intensity cardio will likely raise your cortisol too much and be counterproductive when it comes to losing those last 5-10 pounds of excess fat(which are the ones on your belly). Get your body fat down below 10%, then see how many crunches you want to do -- it may not be very many.
Cardio is good for fat loss only up to a certain point:http://main.poliquingroup.com/ArticlesMultimedia/Articles/Article/1138/Does_Cardio_Make_You_Fat.aspx
Stress = cortisol = increased body fat:http://www.ncbi.nlm.nih.gov/pubmed/16353426