Yes, you'll need a pretty high pain threshold to use an epilator on your face. Even then it's not necessarily worthwhile, as it'll need a couple of days' worth of stubble to get a good grip. How much this shows depends on your hair type.
If you can live with the pain, and a weekend without shaving every month or so, a combination of epilator and razor will work pretty well. I reverted to just shaving, though; but then again, for me the more important thing is how my face feels, not what it looks like.
Nfr