HIIT Advice?

I know that some of you do High Intensity Interval Training, and after hesitating (and doing a lot of reading), I want to start tomorrow.  I'm planning on using the elliptical machine for this.  I'm trying to decide between two different intervals I found:

#1 - 

Phase 1 (1:4): Weeks 1-2

•   15 seconds: High-intensity exercise
•   60 seconds: Rest or low-intensity exercise

Repeat another 10 times, followed by a final 15-second high-intensity blast. 
Total time: 14 minutes

Phase 2 (1:2): Weeks 3-4

•   30 seconds: High-intensity exercise
•   60 seconds: Rest or low-intensity exercise

Repeat another 10 times, followed by a final 30-second high-intensity blast. 
Total time: 17 minutes

 This then has a Phase 3 and a Phase 4

#2 - 

60 Seconds Sprint/Fast Jog
120 Seconds Walk/Slow Jog               Repeat 5-10 times

I'm leaning towards #1, because I don't know if I could do multiple 60 second sprints right now, but if #2 will work better, I'd try for it.

Also, should HIIT be done every day (I try to get to the gym 5-6 days a week), or should it be done with rest days in between?  I've seen conflicting advice online.

I think both will work.  Start with the one you feel more comfortable with.

I do HIIT only once or twice a week.  I'm sure you can do it more, but it is hard on your body.  I'd recommend taking at least a rest day or two in between -- not full rest, but just rest from HIIT.  

Admittently, I use HIIT more to increase me speed development than for weight loss.

I say to try them both and see which works better for you.  

I only do cardio 3-4 times a week. 

As I've continued to research, it seems like rest days are the way to go, just like you two said.  Thanks!

I would go with phase two but if it is too much at first start with phase one and work up to it. Time is your best friend and after a period of time muscles become acclimated to their environment so they need challenge. I do high intensity weight training and it gets my heart rate where it needs to be so that I get cardio plus muscle workout.

Thanks for the advice.  For me, I definitely need to be on Phase 1 for a little while.  It's tough, but I'm getting a good workout.  There's also a phase 3 and 4 to eventually get to.

Either phase would work but start with what is most comfortable for you. I personally mix it into my weight training and do a lot of high intensity lifting with super sets and drop sets. Definitely helps burn fat, sweat and lean out while tearing muscles. Win-win!

I would move it to a Bike.  If you ave access to a spin class many will have a form of HIIT or Tabata drills incorporated in them.