I used to be a leg-shaver, because...
- That's what racer-boys do
- So aero!
- Easier to pick grit out of road rash
- No hair-pulling during recovery massages
- Hairless skin slides easier across pavement. Hairy skin grabs pavement and causes more damage. (No proof of this, but a good theory)
- Chicks dig tanned muscular legs, and hair gets in the way of the view (Confirmed by multiple chicks. I was shaved when my wife and I started dating, and up until the birth of our daughter - proof!)

I was off the bike for 15 years, and am starting to get back into decent shape again. I've been considering shaving again, mostly because of the massage thing. I'm riding my MTB as often as my road bike, and end up with the occasional flesh wound, so grit-picking is a factor, too. The effort it takes to maintain, however, is the primary source of hesitation.