Have done it before and found it great if you have about half a stone to lose like I do.
So it's 2 bowls of cereal a day and 1 meal. You can decide if you want to have lunch as main meal and cereal for dinner or visa versa. Low fat snacks in between, such as fruit, yoghurt or rice cakes.
I am 10 stone 11, want to get down to 10 7.