The epilator arrived on Wednesday so though I'd best make an update!
It does hurt, but not as much as I thought it was going to. Mine came with an ice glove that you put in the freezer, which was a very welcome addition as it did make a difference when you're not used to it. I managed to grin and bear it and get both legs done, though it did take a while with my low pain threshold, doing little areas at a time. Mine had a soft setting and a fast setting, but I found the fast setting was better because it just got the job over and done with, whereas with the "soft" setting you could feel it tugging at each individual hair. I wanted to just go right up the leg and get it done quickly like you would with waxing but I'm a pansy and it was too much lol!
I've had to do a little top up tonight, but I'm going to give it the benefit of the doubt and say it was a few hairs that have either grown through that weren't there when I did it on Wednesday or ones that I missed the first time around. Apart from that, my legs are still every bit as smooth as they were two days ago and I'll be interested to see how long it lasts - it's already lasted longer than I'd get with shaving.
I think the first time, when you're getting all the hair off at once is the worst, and I did have to take my time as it hurt! But when you're just doing the odd hair it's not even half as bad and completely bearable for the minute or so it takes. I think it's something that's definitely worth keeping up with. :)
I did have a go at my pubes but it hurts a lot more down there and I dont think it's something I'd be able to do. It's also a problem because you can't really keep the skin taut (which makes it hurt less). Not tried underarms yet but I imagine that'll hurt too much. For legs though, it's fantastic.