I suppose it would depend on what kind of research you're interested in. Going the physics route will lead more directly into the more fundamental type research. Although, that isn't always the case. The research I'm involved in is entirely applied physics. It's fairly common advice here that if you chose that path, not to count on an academic position as they are few and far between. That's not to say that there are no jobs for physicists. Most of us do reasonably well, even outside of academia.
Going the engineering route will give you a specific profession, but the opportunities for getting involved in research, especially at the fundamental level, will not be as numerous. Also the skill set is somewhat different from that of a physicist as there is more emphasis placed on design and application of known principles.
The good news is that it's not actually that difficult to switch. Take a reasonably general first year if you haven't decided and get involved with different student groups to learn more about each area. From an undergraduate point of view transferring after first year can seem tough because it can add on an extra semester to the time it takes to graduate, but an extra semester in the grand scheme of things really isn't that big of a deal if it gets you where you want to be.