I have the Philips Satinelle, and my opinion is that epilating is great! Sure, it hurts the first time you do it, but once you've got the hang of it and you're epilating more regularly (every few weeks or so), it really doesn't hurt very much. They can pick up pretty much all of the hair, but you might need a bit of practice to get your technique right.
To stop ingrowns, just buy a cheapy exfoliating glove thing, and use it whenever you're in the bath/shower.
Yes, it will leave you with little red dots immediately after epilating, but just apply some moisturiser and within a couple of hours it will disappear - just like with waxing, really.
I'd say that it's definitely worth buying an epilator and persevering with it, because the results are just as good as with waxing, but it works out to be a lot cheaper - and you won't have to worry about getting to the salon, in the future!