I think, with the exception of people with very strong personalities who are also outgoing and comfortable performing naturally, either one purposely develops a character or it evolves over time with performing.
For an example, think of Angier and Borden from The Prestige. Angier is a natural showman (The Great Danton), and while his technical skills aren't anywhere near Borden's, he is much more entertaining. Borden is far more technically skilled but takes quite some time to develop stage presence.
Of course, there will also be constant development with either choice. Personally, my performance philosophy is extremely character-centric and I feel that creating and developing a character is one of the single most important things a performer can do to distinguish themselves from the masses.