Laser hair removal?

Since the IUD question got such a great response, Melissa is wondering if you guys have opinions on laser hair removal:

"I thought I would ask if anyone in the NYC area has had a positiveexperience with laser hair removal.  I seriously want it for my upper lip but am torn between one of these "laser spas" and a derm office...any thoughts?"

I'm a waxer, although I'm going to try threading. But I'm sure some of you must have done the laser removal and have an opinion.

While we're at it, has anyone tried the $175 no!no! that's supposed to lessen the hairs that grow back the more you use it?