Check the best of forum - wbahn has a very informative post in there comparing the vardious methods of measuring BF. Frankly, I think as long as you pick one method and stick with it and use it as an overall indicator of progress you should be ok (remember they can all be off by a few percents, so a .5% drop in lean mass one month is not something to freak over!) I just use the trusty old tape measure these days, and an old pair of jeans to gauge progress.

This was my story as well. I was eating low fat / low calorie and exercising like mad - and getting fatter.

If you're eating enough - and I'd say you are - I would strongly suggest changing the workouts so that you make them an hour or under to keep cortisol from getting out of control (this happens after an hour of exercise) - a sign that coritsol is a problem is a tendancy to hold fat around the middle / abdomen. If you haven't had any time off from working out in a while I would also suggest a week of rest. This is also something you should incorporate into your workouts every 3 - 4 months, just to let the body recover and heal.

Too much cardio can be catabolic - it's a particular problem if you're doing the BFL style cardio and want to add in more w/o increasing protein, but in general it can also be a problem, especially if it goes on for periods of time longer than one hour. A little more about cortisol .

Keep in mind that change is good - reworking exercise plans, changing the reps, the exercises, the schemes are all ways to shock the body into responding. And also keep in mind that those lower body muscles are the big ones - they will burn more fat when they are active

Cheers,
-Nat