I play bass guitar and dabble in guitar.
I love it! It's a lot of fun to jam with buddies and it's nice to just pull out your guitar and play/practice some nice groovy songs and relax with a beer (or four). The only downside is, it is a lot of work. You need to practice everyday for 30 minutes at least for a couple months until you start to be able to recognize what you're playing. I say go for it! The end result is definitly worth it - especially if you can find a cool group of guys to hang out and jam with over a couple homebrews.
My recommendation for beginner tips is this: finger strength, dexterity and coordination is key. The best exercise for this is very simple, though monotonous (i.e., good to do while your wort boils). Start one the low E, and play the first 4 frets, as slow as you need to to get a clear tone (no 'buzzing', referred to as fret buzz). Then, move one string down to A and do the same thing. Repeat this until you have done all six strings, then move back up to the low E, but this time play frets 2345. Go down the strings, and come back and start at 3456 this time. When you get to the end of the fret board, reverse the process, going back up to the top. Do this until your hands cant do it any more. Take a 5 minute break and repeat. This will build up hand strength as well as coordination. This will help remove some of the beginners learning curve as well. So, if you've got 10 minutes, are just sitting watching the tv, waiting on a boil, etc., grab your guitar and just do that. The more you do it the better/faster/cleaner you will sound and get.