Hehe, one of my fantasies is to enjoy a nice dinner at the Y with a lady who has piercings down there. Ever since I heard people actually pierce that area I've wanted to know what it'd be like.
To answer you're question though, as long as it's not in excess, or in extremely wierd areas (I had a friend who put spikes through the skin above his knee, made me retch whenever I even thought about it for a few days afterwards, he couldn't even extend his legs fully after that, he had to leave his knees partially bent and he couldn't curl his leg very far either), I can handle just about anything, I think.