As well as cost, there is the issue for some of pain. You can get the treatment from most beauty clinics, so if you have the nerve and the money, go for it. If TS, you can get this through the NHS, I believe. Other methods are regularly used by women on their legs, and are plenty good enough for us, despite our usually hairier lot. Women assure me that men are the fundamentally weaker sex, because they generally can't take a leg-waxing.
Opinion is divided on the pain of such a device.
If you have a high pain threshold, then this could be for you - the effects do last longer than shaving. Depilatory cream may also be for you. It doesn't work for me, but SW assures me it does for her. Perhaps use it slightly more liberally than recommended, or certainly near the upper limits. But for all-round effectiveness and general applicability, you can't beat shaving.