I've got one. It's great if you have the time. It is better than waxing in the respect that you can do it when the hairs are just stubble, rather than waiting until you look like a gorilla! Also, in the long run, it is cheaper than waxing/shaving/Immacing etc. The only draw back is ingrowing hairs, and the tender parts behind the knees, which take some bravery. Also, don't even THINK about doing your bikini line. This is all very well when waxing, as someone else does it quickly, but when you are inflicting the pain yourself, you tend to stop. Take it from me!
It IS painful, but I find that the pain reaches a certain level for the first 5 minutes, and then it is almost like the tingle protects you from the pain. I can't explain it, but I always find that it is fine after the first 5 minutes, well, until you change legs that is! Make sure that you exfoliate well, which is something I am a bit lax on. It prevents ingrowing hairs, which are a NIGHTMARE. I find them worse with an Epilator than when I have a wax.
Finally, don't be conned by these Epilators that have a 'pain reducer' mechanism...they don't make a stuff of difference. I find that my Silkepil is fab, it has pincer discs, a bit like tweezers. By the way, you can't put Boots points towards an item. You have to have enough to buy the thing outright. If you have, I would say go for it.
Let me know how you get on with it.