I use to hate it, but have grown pretty indifferent to it in more recent years.  That is, as long as it's not Austin Power-like, in which case, it's time to mow the lawn :P  If you or your friends are looking into laser hair reduction, the technicians can actually work with you if you're looking to reduce the hair instead of being completely hairless.  You can check out this review of laser hair reduction for more info.  Some guys and gals find hair on chest sexy, while others don't.  It's just all about preference ;)