Personally I'm trimmed by using my hair clippers down there but I'm not "razor smooth".
On a lady I'm not fussed unless I'm having a munch. I prefer trimmed (not necessarily shaved) for that otherwise it can be like finding a hair in your sandwich after you've taken a bite. Also, despite my bald head and shaving my face every other day it is rare I don't have at least a modicum of stubble. The Velcro effect can be weird...