Re:PH and bodyfat
It depends on the individual, IMO.
I can eat all day long. I can easily consume 8k calories if I wanted to (6-7k voluntarily) - for someone like me; ECA is a dream come true, as I need the appetite supression whilst cutting. The extra 'energy' and 'focus' that it provides for my fasted cardio sessions is also welcomed with open arms
Unless the cardio regime/diet is brutal or one has a naturally high metabolism then I don't think muscle loss is much of a concern for those of us within out natural limits (assuming adequate protein intake during the transitional period). Whilst dieting one may look flat or lose strength, but this is seldom the case after the person has restored adequate glycogen stores upon cessation of the diet.
Cortisol antagonism does however represent an effective means of helping one reduce bodyfat, especially VAT.