I get less red spots with waxing, I can only think that the heat helps the skin not be so tight on the hair follicles or something but, yeah it is pretty hard to avoid the little red bumps, I also get them plucking and waxing sometimes, but the epilator seems to bring out the worst of it.
Still, to have smooth skin, without stubble is just divine, I think it is worth quite a bit of pain. Then again I think body hair bothers me probably more than anything else about being biologically male.