I made a post on ASPD a while back about a favorite product of mine. I'll repeat it here:
Click for link
It's great stuff. Spread it on, wait for 7-8 minutes, then wipe off in the shower. Hair is gone and it is smooth and soft. My balls and taint are clean for a month. Pubic hair grows back faster and thicker so I touch up after two weeks.
I've only ever found it at Walgreen's, but I'm sure there are similar products are CVS. It is inexpensive and works like a charm.
Ask around -- I gave it out as Christmas presents last year (true story!)
There is nothing like hearing a girl say "Ooooh, you shave your balls!" before she takes them in her mouth. I love surprising them.