I think people tend to go into this "all or nothing" mentality. Who says that you have to do a NO CARB diet? or an Atkins induction diet to go lower carb? You simply don't.
Just like you don't have to do full paleo.
But I think most of us would be wiser to limit the grains in our diets. We simply don't need them.
I eat a lower carb diet, but it's by no means a very low carb diet.
I eat all fruits, but bananas and try to stick with berries and apples and rely less on mangos and peaches.
I eat all vegetables and eat mounds of them at meals with a bit of olive oil.
I like sweet though, so I drink a lower carb protein shake and eat lower carb protein bars (like atkins or Quest).
I typically have about 80 net carbs per day. I just simply skip the rice (any kind), cereals, pasta, potatoes and breads and stick to the fruits, veggies and meats (and beans).
Another thing people tend not to realize is that cholesterol is greatly affected by lack of exercise. If you start exercising, you may find your cholesterol goes down and the break down will be better (better good cholesterol). It's not just diet that influences cholesterol levels.