Hair is not a bad thing, although it depends on where it is I suppose. the only thing that can get mildly annoying for me is if the guy doesn't maintain his pubic hair. For the same reason guys complain if a girl doesn't do it...I'm not gonna want to give you a bj if it's totally wild down there lol.
Oh, yeah, a happy trail is probably *the* sexiest area for body hair. Also for me personally a little facial stubble drives me wild (in a good way). Although I'm not sure but it seems like most other women I've talked to don't like it, but hey everyone is different :)