I shave my cock, balls and ass every few days, gets itchy otherwise. I love the smooth feel and I also love that I (and others) can see my cock so much better. I get long pretty straight pubic hair when I don't shave. I also get long hair around my asshole which I find extremely unhygienic.
As to the arousal part, if I take my time, apply shaving gel, and massage it up nicely then yes most definitely get aroused. (shaving gel btw is an excellent lube for wanking off
) On the other hand if it's a quick shave during my morning shower then it feels nice but I'm in too much of a hurry to get very aroused.
I also prefer my partners to shave their pubes, again for hygiene reasons and I like to see the full package that I'm being offered! Also getting pubes caught in your throat is unpleasant. Other body hair I like. A big hairy man is quite a sexy beast. Not really into hairy women though