I'd stay in Stirling. You can pick up the car in Edinburgh at the airport, drive up to Stirling, park and get situated, then wander around the town as you have the energy and inclination. There are some nice restaurants and shops, and many historical buildings in addition to the castle. I think this would be ideal for that first jet lag day. Then you can explore Stirling and the surrounding area for a few days.

On our first visit to Scotland in 1999, we stayed 2 nights in Aberfoyle and found it the town to be a bit frumpy. My husband, especially, wished we had chosen a different town. It wasn't particularly tourist-charming, nor was it authentic-undiscovered. More dowager like. There just didn't seem to be enough there, except for the Scottish Wool Centre, which did have a fun, if hokey, sheep show. You could tell the fellow has told the same jokes every day for years, but we laughed nonetheless. (Similar story with the show on Monday nights at Pitlochry.) We did Stirling as a day trip (from Aberfoyle) and found that we could have used more time.

That being said, if I were to stay west of Stirling, I might look at Callander, which seems appealing from the short visits I've had there. If I'm not mistaken, there is a wonderful ice cream shop on Main Street.

It is only about 30 miles from Edinburgh Airport to Stirling which is a fairly easy drive as you will be on motorway all the way there. I would suggest staying if possible in the Stirling area as there is quite a lot to do and see there. You can if you are feeling comfortable on your first day drive take a detour off the motorway to the Falkirk Wheel and then onto your accommodation in Stirling. Callander should you wish to stay there is 14 miles further on and there is a good road there but not all motorway, It could however mean retracing your route back to Stirling to look round there.
If you have an overnight flight then I would suggest that you take your time getting your luggage etc thereby ensuring that you let the morning rush hour traffic pass before you drive to Stirling. This will make it easier for you especially as you may feel tired after the flight as well as being a bit apprehensive about driving on a different side of the road.
After that your plans are very do-able and you can easily stick to your chosen schedule.
You will find on Skye that a lot of the roads are single track roads so your journeys will take longer. Similar conditions, depending on which route you take, apply when you are travelling to Gairloch and Ullapool.
The last day you have the car will involve a drive of about 120 miles on two way road with the occasional dual carriageway however there are plenty of places to stop and explore on your route to Edinburgh before you return your car.

I didn't mean staying IN Aberfoyle -- I meant in/near that area. Of the two Callander would be head and shoulders above Aberfoyle - but there are lots of B&Bs in that general area.

Thanks janis---you're right, I missed it,but as you know it's often hard to convince first timers.

d1carter,

What time does your flight arrive in Edinburgh? I'd at least consider spending the first day & night there and then drive to Stirling (or, Callander) stopping at the Falkirk Wheel enroute. You could do the wheel and then stop in Stirling for the afternoon and drive on to Callander or wherever you decide to stay.

After a long flight it's really impossible to know how you'll feel. By staying in Edinburgh the first night, you can play it by ear doing as much or as little as want depending on how you feel. You'll probably be in much better shape the next day.

You are very helpful. I will be the driver and I have driven on the left before, but I really got my education on the smaller roads in Ireland a couple of years ago. Thanks for all your help. We will post for suggestions on accomodations after we do some more research.

I do agree with the others who have commented that the second itinerary is much more "doable". I have been to Scotland 3 times and still have not been to Skye. You cannot see it all no matter how long your trip because there is so much to see.