Epilating can hurt like hell, but I do it anyway.... Shaving is just minging, you get all stubbly and I've had too many silent cuts... *faints*
Epilating's not so good for the legs I find, because the hairs aren't super thick/strong, some just break and you have to go back and do them again a couple of days later, so wax I find is better for legs (plus I quite like the pain, it's like a twisted sense of smooth satisfaction

)...
On the otherhand, I epilate my underarms. Yes it hurts like a SOAB but it's worth it for 5-6weeks of smoooothness

then as soon as they grow back epilate again, the hairs are thinner and it doesn't hurt as much (looks so much better than 5o'clock underarm shadow

)
I recommend getting waxed by a salon, they don't miss anywhere, and can hold it taught as they pull... plus it hurts less (IMO)...
Bikini doesn't hurt at all IMO, that includes epilating and waxing... exfoliating a week after works too... I do get the odd one in growing hair in my legs, but nothing that a little tweezering can't sort out
My beautician tells me that soaking the area in teatree oil is good for holding back in growing hairs..
You should try a hollywood wax, then you will hit notes than only a soprano can hit
Lazering is the way forward... 3 sessions then you can have a life of smoothness
Good luck Nutty, whatever you do it will be worth it
PS Im sorry if any of the above was deemed "TMI".