I had one scalpeled (sp?) out...The anaesthetic didn't hurt any more than any other injection, and I'm really not good with needles. It didn't hurt once it wore off, either.
LadyEnglish; there is a slight scar where mine was that is about the same size as the mole was. I think this is mostly because my skin doesn't tend to deal with scarring too well, I have a couple of other small keloids on my arms that need sorting out. It's the same colour as the rest of my skin though, and much less noticable than the mole was. All the same I'd be careful if it's on your face.