Burninator, I made the decision to pick up guitar a year ago as well, so I can tell you what I decided to do and how it's worked out. I went the Reg way, and bought an Ibanez Artcore hollow body because of it's flexibility. Really nice guitar and easy to move around the neck. I wanted to practice at work, so I bought an inexpensive Takamine acoustic and stuck it in the corner of my office for lunch hour practice sessions. Those who said starting out on the acoustic are right on the money IMO. The acoustic does everything they suggest, and when you move to the electric the chords are just so much easier to form. I later snagged an Ibanez AR-100 and an AR-300 on e-bay (both for the cost of my Artcore at the local music warehouse) and these two guitars are a dream to play after working out on the acoustic for a while.
If you're looking for a compromise, and want a nice blend of acoustic that can easily be amplified, look at an Ovation. Some may stick their noses up in the air at them, but they are very nice to play, have a great sound, have a built in pickup for amplification, and come at a very affordable price point. I'd consider an Ovation Applause as your first guitar, and I think you'll be very happy with everything about it. Plus, the $200 you have to invest won't be that big a loss should you get frustrated and let your guitar sit in the corner and gather dust.
Oh, and invest in a good case (protect the things you love) and a good electronic tuner. Until you learn to tune by ear and harmonics it is well advised to use a quality digital tuner (Korg for example). If you buy the Ovation, you can plug your guitar directly into your tuner and not have to worry about ambient noises causing tuning issues (an advantage, believe me). And remember, don't be too hard on yourself. Learning a musical instrument is not easy, so don't expect to be a Guitar Hero in a few weeks. Work at it, and expect to suck early. In fact, embrace your suckiness, it'll help you get better quicker as your expectations are not set so high. Oh, and ignore all the music critics around here and get yourself a Nickleback song book. After learning about four chords you'll be able to play almost all of their songs, and begin to develop a repitoire, and that's what the whole thing is about. When you're sitting around the camp fire who the hell is going to care about your musicianship and the fact that you can play some really complex chords for songs they don't know? Pull out the Nickleback, and people will be groaning, but they'll be singing along almost immediately. Just my two cents. Whatever you decide, have fun with it!!!
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