Yay! This is a wonderful step!

I'm on my 4th session in a couple of weeks, and it has started to thin a bit, but still pretty obvious. There are a lot of variables -- you can only go every 6 weeks because of the "resting time" that hair has. Essentially, if you go earlier, you won't have anything to zap. You have to wait for the regrowth.
You do need to shave - preferably just before you go in. I have my entire face and neck cleared each session, and it is about 30-45 minutes. They use a Lightsheer Duet which is painful as all getout, but not as bad as electrolysis. Laser has permanent hair reduction, and electrolysis is hair elimination. Essentially, you will never kill everything with laser, but you can get really close and save a lot more money and pain by starting that route before finishing up with electro.
Your face will more than likely be really red for a day or so after. A bag of frozen corn seems to soothe mine along with a generous amount of aloe cream. I am one of the unfortunate people who, despite not having acne since I was a kid over 20 years ago, break out in really bad acne afterward. Essentially, between the redness and acne it looks like I have moderately bad razor burn for about 10 days after my laser sessions.
If you can get a session on a Friday (they fill up) I would recommend doing that - it gives you the weekend to recover. Also, you may want to check on the laser they use - I have heard several people say IPL (i.e. pulse light) is not good on MtF hair and you would waste your money. I have never gone that route, but there are a couple of threads here about it.
Basically, plan for 30-45 minutes and during that time you will probably get something like 20-30 pulses from the laser. You'll smell slightly burned skin, and singed hair, and the laser pulse will feel like a brief but intense cigarette burn where it hits your skin. At the point where you are ready to scream out for "Mercy!!" it is over. You then give them your credit card, and go out in your car and cry to yourself tears of joy because you are finally making progress (as you look in the mirror at your slightly beat up and red face).
Oh yeah - you probably won't want to shave for a day or two after.
Good luck - let us know how it goes!
Toni
PS - I have only had one slight burn, and no scabbing. You can get Biafine ointment to help the healing if you have any problems. I was told 8 - 10 sessions to fully clear. 6 sessions to see favorable results. Electro to finish the job.