Hi Walt:
You have a tough decision.
I have been a Model Railroader since I was 12. I am now retired. I started on Lionel and had an 8' x 8' railroad built in the basement. I dabbled in HO and even had engines and cars. I built kits and scratch models. I am a builder. I tried to build a few HO passenger and boxcars but couldn't get the satisfaction I got with O Scale. My first O-Scale RR was in a room that was 9' x 11'. I am lucky in that I like the early transition years, but could run 80' passenger cars within the small area.
I am now building an addition onto our garage that is 22' x 22'. However, 1/2 will be a workshop. My new layout will be 10' x 16', which is plenty big enough for my O-Scale needs. It is big enough for 3 continuous loops, staging and a turntable. Proper planning and attention to details on any smaller layout you put on paper is key. Curve transitions are a must.
While there are those who build superb models in HO, O Scale is more suited for older eyes. I like to hear the taking-up of the car slack in O, something you don't get in HO. Also, being able to feel an O-Scale engine as it passes is impressive. I weight all my cars to 14 Ounces, so pulling 30 or 40 cars is out. Most of my rolling stock is wood metal or brass. I think I have one plastic boxcar.
HO advantages are lower costs, more availability and lots of choices if you are not a builder. Automatically, your layout space is 4X larger than O Scale. This means more larger radius engines are possible. Oh, and it is 2-Rail.
S Scale should be the way the world went, as it offers the best of both worlds, however, availability is tough and you would want prototypical rail.
O-Scale advantages are the "feel" and the "Look". I also believe it is easier to build in. For me, it is my preference.
O-Gauge is very popular, but has the 3rd Rail which some find to be distracting. However, Radius curves can be tighter as long as you stay with Lionel or shorter cars.
Since you have no Railroading Experience, I would recommend you visit a few layouts or get involved in a Club so you can get that experience. Once you have made your decision and generate a stable of engines, cars and equipment, it will be hard to make a change.
I hear that Radius is everything in O-Scale, but I have as much fun as I need with 37-42" Radii.
I hope this helps.
Best of luck on your decision and Welcome to you as a Model Railroader.
Tom