Hey Guys! Support has been very helpful and fast to respond even on Saturday. But have yet to identify the root cause.
Per Art-J's recommendation, I downloaded the StandAlone and it installed --and worked! Sorta, it crashed (no longer responded after I launched a T51 quick action mission to see what it looked like). After what seemed like forever, Windows eventually put up a prompt that the program was no longer responding so I elected to close it rather than continue to wait.
So, instead of relaunching the Standalone, I attempted to use Steam again --and it now works! I now have the Saved Games folder that did not exist prior to loading/running the Standalone.
Sadly my weekend of getting to know DCS is pretty much over, but I'll dig in by next weekend and hopefully have my setup figured out (headtracking, hotas, etc).