I happen to have been cursed with more body hair than I care to have. So to combat this, I shave my body hair on a regular basis. I shave my legs, back (my wife helps with this, what a woman), shoulders smooth and closely trim my chest, abdomen, arms and armpits. I'm NOT a freak. Those of you who are naturally hairless just don't know what it's like to be hirsute in this sport and this life that typifies fit, healthy and sexy as a chisled, smooth-chested man (Tom Selleck, Nicholas Cage, Robert Redford, et. al. excluded).
I suggest you purchase a cordless Norelco beard trimmer
http://www.consumer.philips.com/...atId=BMTrimmers_2002. These are great at keeping things under control and does it fast. It comes with an adjustable guard to dial-in the desired hair length. Remove the guard completely for a pseudo-shave that won't give you painfull razor bumps. You'll have to experiment, but it's just what you're looking for.
I also use a Gillette Sensor Excel razor and Nair for Men for certain things and have some personal do's and dont's. I use the razor for face and shoulders only. I get razor bumbs anywhere else using this method. Nair for Men on the legs, but only 3/4 of the way up the thigh. Any higher and I break out in razor bumps. I go all the way up the leg, but use the trimmer without the guard. WARNING - Nair for Men works great, but follow the instructions EXACTLY. Use a digital kitchen timer and start it as soon as you start to apply it, otherwise IT WILL BURN! This is a caustic lotion that literally burns the hair to remove it. It will burn your skin, too, if left on too long. I use a little Pyrex custard cup, put the Nair for Men into it and apply it to my legs using a cheap, 2" natural bristle paint brush that can be purchased at Home Depot for about 30 cents (one-time use only as the Nair will burn this hair, too!). This ensures a smooth, even coat of remover. Do one leg at a time and remove the Nair as soon as the timer beeps (I start with 9 minutes). Use a soft sponge (natural sea sponge works good) and water to remove the Nair and help the stubborn hair to be removed.
Good luck. I totally understand how you feel and I say go for it!
Sean