Anyways... Just had my 3rd lesson. I'm moving into learning chords and chord transitions. I've mastered two strings at 126+ bpm and I'm working on the third string at 126 bpm. There's a lot for me to work on in the next week! I think that's the most important part about a teacher... telling you what to learn and giving you a period in which to learn it! It keeps you moving at a quicker pace than if you do it by yourself.
I usually end up doing about 25% more than the teacher lays out, but it's that initial work that provides the momentum.