I shave my legs daily and shave my bikini area every few days. With my legs, about once a week or so I try to do a "deeper" shave with a sugar/oil exfoliant & moisturizer mix.
I've waxed my bikini area once and liked the results, but don't have the patience between regrowths.
I currently also shave under my arms daily too, but recently purchased a Groupon for 6 under-arm laser hair removal sessions that was REALLY inexpensive. I'll be starting my first session in late May, so hopefully 6 months from now I won't have to worry about shaving under my arms at all. One of my female relatives, who has similar body hair texture to mine, did laser hair removal under her arms and raved about the results, even after her first session.