S.R.
The electric razor/trimmer! I have one, it's a Schick Quattro Trimstyle For Women, one side is a razor that you can buy replacement blades for and the other is an electric trimmer. It takes one aaa battery.I got it at Wal-Mart. Initially it was expensive, like $10 I think (maybe more) but I have had it for 6 or more months. Since you can buy new blades for it, I think it was worth it.
http://www.schick.com/us/quattro-for-women.shtml
(It is the first one)
You can take the trimmer cover off to get a closer trim, which I do. Or you can adjust it too. Ack I can't believe I am putting all this out there LOL! I like it because I don't have to buy seperate razors to shave my legs since on the other side it is a razor.
Added*
When I do shave, which I still do certain parts (tmi), I use my hair conditioner. I also use it on my legs. I love it, never leaves any bumps or razor burn. Also there is this stuff from Pure Romance called Coochie, that is made just for shaving down there.