I've done both. The last time I went to Daytona Beach (was there for a race, not so much to surf) I left the surfboard in the hotel room and stuck with my Morey Mach 7+7 bodyboard off the shore break. My bodyboard has skegs (fins) for high-speed control but here in Florida they're mostly there for show - never get many high-faced waves here.
I catch more waves on the bodyboard - the bodyboard has a bigger flight envelope. Also, some beaches here won't allow hard-surface boards such as surfboards because of the safety hazard to swimmers. The lifeguards won't hassle me over a "sponger" like they do the surfboards.
The bodyboard is cheaper to buy, easier to maintain, and won't ding like a surfboard. A good bodyboard will run about $100. A good surfboard will run around $400.
The bodyboard is also easier to take on trips because its small and fits in most car trunks and backseats.
When buying a bodyboard, you should consider a few things:
(a) your body size. Big guys need a bigger board. If you get a board that's too small, you'll have fun but you'll miss out on doing some tricks, like knee rides and spinners. You'll also shorten the life of the board by forcing it to exceed its capacity.
(b) board construction. The stiffer the better. Generally, you're paying for the stiffness of the foam, so spend a little extra and get something that won't crease up like a softside suitcase. Some companies reinforce the foam with graphite stringers. In the early days these stringers would eventually work themselves loose inside the board, but foam has come aways since the 90's.
(c) the slicker the bottom, the better. Some companies use different plastics, such the same material golf ball covers are made from. Slick bottoms will give you a faster ride and will extend the life of your board by giving added stiffness and providing a level of protection from underwater rocks and shells.
(d) skegs - yes or no? It depends on the size of the wave. Generally, leave the skegs off. They're a safety hazard to others and to you, and will prevent you from doing spinners and such.
(e) buy a set of open-heel fins and fin tethers. They'll give you a good push off (your hands will be busy holding the board) and provide good control on your ride. And, when you want to leave the board on shore you can use the fins for bodysurfing.
(f) swallow-tail or bat-tail? Depends on what you want to do. It probably doesn't matter much, but in my opinion the bat-tails are easier to spin although the swallow-tails are more comfortable when you're bobbing in the water.
(g) spend the money on a rash guard (tight lycra shirt). Don't let sore nipples shorten your surf session!
General maintenance tips:
(a) don't leave the bodyboard in the hatch of a car in direct sunlight on a hot sunny day. The foam will heat up and bubble and you could have separation of the deck eventually.
(b) don't store the bodyboard near gasoline; i.e. don't store it next to the lawnmower in the garage. Gas fumes will eat up foam.
(c) don't let the bodyboard ground out on the shore too much. The more the plastic bottom get chewed up, the more drag it produces.
(d) don't put fancy stickers on the bottom. The board will flex as you ride it and that will cause the stickers to lose adhesion, then water will peel the stickers back and that will cause drag. Drag is bad.
And most importantly:
(e)
don't forget the Bullfrog SPF 40 waterproof sunscreen!:edit: one more thing. Pay attention to your shorts. Wear boardshorts or Speedos, not nylon volleyball/watershorts. You don't want a parachute hanging off the back of your board. Drag is bad, remember? I get mine custom-made at
http://www.xelos.com.
