I've never removed any body hair below my neck. I imagine the level of maintenance required to keep even parts of the body hairless is rather time consuming, and anything but regular maintenance has got to result in some very uncomfortable stubbling (well, for certain parts of the body anyway). I'm also not too aware as to where hair should be removed and where hair shouldn't be, as dictated by current trends. I mean, for people who have hairy asses - does anyone remove that hair? Shaving's got to be difficult, and potentially very uncomfortable (as detailed in another rather humourous thread here recently), and waxing is unimagineable (at least for parts of the ass beyond the cheeks).
I guess there's always laser removal - I could see myself using that for certain parts of the body (back/shoulders, for instance - i've very little hair there anyway but it'd be nice to be rid of it totally).
On the level of attraction, as a dude who likes dudes, i can like very hairy or very smooth, it doesn't really matter to me. Hair seems to suit certain guys better than others though.