I used to shave it all, because that's what my boyfriend at the time liked. But I prefer it more au naturel, trimmed up for a thong or bathing suit. A more recent bf preferred it this way, so I plan on sticking with it. I generally prefer to shave from my perineum (the spot between your v. and a.) to my clitoris on my vulva, mostly so that hair doesn't get pulled into my vagina during sex and it also feels nicer
I'd say experiment with different ways of shaving, and always use a new razor!