In the early game AC and LT is basically what you have to your disposal so yes it would be ok to pursue research and production.Armored Cars can counter Infantry and Light Tanks can counter Armored Cars.You can capture provinces fast early game.(Please see screenshot attached in reply to your initial thread/question on Thursday 27 June).
If you play Comintern then yes AC and LT should definitely be pursued in research and production.I personally stop with Light Tanks the moment I can get Medium Tanks on the ground and upgrade them.