Having leveled two pally's i found that ret suited my play style much better than prot
AoE grinding is better as ret when you get divine storm and used with seal of light.
Depends quite a bit on your playstyle. If you enjoy doing lots of instances while leveling and AoE grind sounds fascinating to you, then prot could be the way for you. On the other hand retribution is definetly better for soloing purposes. I say invest on the dual spec and go for both!
Ret until you can pick up blessing of sanctuary. Then prot if you wanna grind.
Truth be told, i leveled holy from day 1 and although it was difficult back in vanilla and parts of TBC, it was easy to find a group, and you can solo most every group quest. There were few quests in Northrend I couldn't do solo. That's not to say it wouldn't have been easier as prot or ret - I don't know. But they weren't difficult holy either.