My SO doesn't really prefer one way or another, but for me it makes the entire area much more sensitive as her fingers just getting close feel more electric and exciting.

The waxing doesn't tickle, but it's not as bad as most think it would be. I get waxed about every 4-5 weeks and it's almost like the relationship of the stereotypical local bartender. I can tell my waxer ANYTHING and get good feedback and/or opinions.