My friend's fitness writeup that I linked to in another thread (available here
) specifically advocates one hour of lifting every other day, and no more, and doing basic multi-group stuff like squats, bench, etc. Apparently most of the "modern" programs (he cites Bill Starr, Mark Rippetoe, Westside Barbell Training and Hypertrophy Specific Training) follow similar ideals.
An hour every other day on basic gym equipment seems pretty straightforward, i.e. you don't need eighty wacky isolation machines to do everything (he, and others I know, specifically advise against isolation machines because they neglect postural muscles and waste time -- until you are so strong that you can't train your biceps with full-body movements any more for lack of actual energy, isolation machines serve less purpose.)
I don't lift weights, so this is just what I've heard.