I have really tough hair, and I personally found an electric razor did not do the job. It's possible since I bought cheaper (under $50) models that I didn't get something good enough, but I didn't want to make a big investment and have it not work, based on experience with the lower priced models.
However, I will recommend the Schick Quattro blade razor, because it has cross wires on the blades that make it a lot more difficult to nick the skin. Considering I used to rip myself to shreds with other razors (which is when I tried electric), this has been a godssend. It also slices through the tough hair like nothing. So, it might be worth giving a try before making a much larger investment in a higher-end electric.