I admit I've taken to shaving chest hair. Due to wearing temp tats for races this year, I need to shave arms and legs to avoid pulling hair out later when I take them off. I've tried with the arms and it's definitely a new feeling. You don't realize how much sensory input you get from arm hair until you lose it! Plus I'm colder more often just sitting around. Odd.
The theory and rumor for this oddity for guys is lessening resistance in water and if you crash, less problems with scabs and hair in them. Other than that... I have trouble seeing the real advantage (other than in the nether regions for chafing and what not).
Any thoughts out there?