I'm pretty happy as long as her bush isn't so expansive that it's down her thighs or something. I find the fact that she grooms herself to look pretty down there at least as arousing as what she does with it.
I think it somewhat depends on what her pussy looks like though. If she's got fairly big labia, I think it makes sense to leave more hair around it; if she shaves it all off, then they can look really big. On the other hand, I dated a woman who basically just had a slit. Her labia and hood were so small that you had to spread her open to see anything. She shaved completely and it looked kind of prepubescent. I wasn't complaining, but I remember thinking that she should leave a little on there. When it comes to porn, I find that I like it when a woman shaves down low and leaves a decent bush on top. Womanly and feminine, but you can see all the yummy parts. ^_^
And turnabout is fair play. I shave the shaft and trim all but the top. Women seem to like it.