I feel sweatier without it personally, I think it's what you're used to. I never removed mine when I was younger and got used to having it and now I don't. One thing I have never liked though is when you're on your period (or ovulating) and the blood/other stuff gets caught in the hairs and then the hair touches your leg and feels wet and horrible, so I tend to trim it short, but I don't like being completely bald.
I'd be cautious about using immac on it, BTW, as it can cause burns to sensitive skin, obviously skin down there is a bit more sensitive than armpits and legs.