i know...i'm a guy, but i still shave my pubes, and for doing so i use a mach 3 turbo. I'm not sure if it'd be the same when trying to shave around the lips at all, but if you try gently shaving directly against the grain (and don't make too many strokes or you get razor burn from my experience, if it isn't smooth in three strokes, wait till the next time you need a shave) it works very well. I've also found that a brand new razor gives you razor burn as bad as an old one that needs retired. Wait till you've used it three or four times to judge whether it works well without the burn or not.
I've learned all this from experience, so there might still be a better way out there. I'd be interested as well if there is.
(and i'm sure shaving is still more painless than plucking *
)
oh, and if there are any other guys that read this, i recommend shaving. it definitely feels better than having an untamed jungle down there.