I started shaving this season just to try it. My legs were sasquatch before and it was a frikkin joke trying to keep them loose and properly tended. Shaving them definitely helps with massages. I noticed too that I don't have hairs poking out through my bike shorts, which makes me look a lot less grody to the neighbors I'm sure. What really surprised me though was how much cooler my legs are out in the heat. Instead of caking into a permalayer of sweat salt gumbo, all the moisture can escape from my legs now. That lets a lot more heat out. It really makes a huge difference over the course of a long midday ride. I left my arms alone and they feel just like my legs used to. Once they get all caked up, it really feels like I am wearing arm warmers. So next season, I will probably try shaving my arms too.
In about a month I'll start letting my legs grow back out again, to get ready for winter. When the temps get down into the 40's, it's nice to be the sasquatch again.