I had lasik done about 5 years ago, and here's my personal thoughts on it. Technology I'm sure has changed, so take this for what it's worth. When every brings up lasik, I think back and realize that having lasik done was the BEST choice I've ever made in my life.
My vision was 20/400..horrible, and I had to wear glasses since I was a child, as long as I can remember. Contacts bothered my eyes being sensitive, so I couldn't wear them. My lifestyle was always active, and I was always breaking my glasses. I hated the fact that I had to rely on them to survive. I had to wear glasses, because without them, I was really screwed. I'm sure I've made up the money in broken glasses over the past 5 years too.
1) After 5 years my vision is still better than 20/20, it's something like 20/18 actually. Pretty d@mn good. I may need reading glasses when I get older, but at least I won't need them to function.
2) No side effects, although bright lights at night might be worse than the average person, however I don't notice it or care.
3) I do not have to worry about not seeing while swimming, skiing, etc. I love it. Lasik really changed my life for the better.
4) My eyes. Women are always complimenting me on my eyes. When I wore glasses, it almost never happened.
So, from my experience, I would definitely recommend it. However, make sure you do your homework, don't try to cut costs...it's a pretty intense operation (I thought), so go to a reputable place, even if it costs more.
EDIT: Read Azanon's advise above. The place I went to was very adamant about people being qualified for the operation. They, in fact, turned away more people than they accepted, and thus had a 99.something success rate.