The Pigra cable car at Argegno has very particular opening hours ... check them in advance!

There is no path around the lake!!

I would recommend taking a boat to Lenno and visiting the Villa Balbianello - intimate and fantastic. The Villa Carlotta at Tremezzo has lovely gardens but seems to be very large for its furniture, ditto the Villa Melzi at Bellagio. Bellagio is highly overrated IMHO, with nothing but souvenir shops and high prices once you get away from the quayside.

Or simply visit Como's old town and the Duomo and take a boat up to Torno and enjoy a meal at the Bar Italia and watch the world go by. Torno is approx 30 mins up the lake and the lake trip takes in the Villa d'Este and plenty of attractive lakeside villas.