I shave my legs for cycling and have done so for over 15 years (I'm a young 50 year old). I don't really care what other people think. It feels better, looks better, is easier to clean road-rash (been there a few times). My spouse likes it, my 20-something kids think dad is cool and I'm very confident in my masculinity.

I recently read in Men's Journal magazine that there is a trend in young men to shave not only the legs, but the chest and arms too. Makes the abs look more defined (if you have decent ones). Have you ever noticed that those guys in the infomercials on TV for exercise machines and guys in magazines almost always have smooth-hairless bodies. I think cyclists are just on the leading edge of fashion and just don't know it.