Unfortunately I couldn't get the digital camera to show it's truly obscene beauty, but for a good feel for what it looks like at it's best notice the reflection of the pedal on the downtube in the pic. After a really good polish job my bike goes from being silver to being so mirrored that it really doesn't have a color, it just reflects everything around it. I know what you're thinking and don't get me wrong, yes this level of shine does involve a huge waste of time, in fact almost a full year's worth. This is what happens when someone who's a nut about bikes spends a year mostly off his bike but not necessarily away from his bike. I ended many weeks realizing that I had spent more time wet-sanding and polishing my bike than I had spent riding it.
I think most every non-bike racer has questioned the leg shaving thing at least once. There's lots of reasons we give: faster healing of road rash, more aero, better for massages, ect. But I have to admit my biggest reason is probably mental. When my legs are hairy, to me they look and feel like these scrawny dangling appendages hanging from the lower part of my body, but when they're shaved they seem more like purpose built machines, they're not scrawny, they're light weight and efficient.