Why does everything turn into a thread about shaving? As someone who has crashed way too often, I can assure you that it really makes a big difference.
Well, I've crashed a fair amount back in my serious racing days, but I was already shaved, so I never had to deal with the hair. But I never shaved for that purpose. If that was the only reason, then shaving would be a waste of time in the long run. Having smooth legs is SO MUCH more pleasant when it comes to massaging. It also looks better (subjective), and feels good.