And then there's the option to do neither/both at the same time. Jazz guitarists call it chord melody... I can't do it but I sure like hearing it!

Bob, I played "lead" (read: noodled around) for several years before learning my first chord. Basically, I played along with records and tried to duplicate what melodies I heard. I think it really helps to play along with records you know well, because you'll know when your finger is in the wrong spot.

Best wishes,
Michael