I find it much, much much much easier to play melodically with a pick. I started out with a pick, and never tried to learn how to finger pick. However, I find that, in trying to play chords, using my fingers is what comes most naturally and most easily.
So, in a magical land, I'd play chords with my fingers, then switch to a pick instantaneously for melodies. However, given that this obviously can't happen, do you find it practical to play chords with a pick, or do you have to do without?
One thing I will say is that, in playing with a pick, you'd be limited to playing 4 strings simultaneously, under the premise that you'd be holding the pick with your thumb and one finger.