I've had four fraxel treatments done to my face (3 regular treatments and a 6 month follow-up treatment). The procedure is not very painful, but can feel like a bad sunburn for a few hours. I have very sensitive skin and I tend to have a few breakouts about two days following the treatment due to clogged pores. I have opted out of the numbing cream to minimize the change for breakouts.
After the treatment by skin is a bit puffy and slightly blotchy. After a few days, the texture of the skin and feel a bit course from where the laser punctures the skin (basically, the skin has a barely noticeable grid pattern).
I was hoping that the fraxel would reduce some dark spots. Though the treatment has helped, much like IPL, I still have dark patches of skins - but these are minimized. However, the tone and texture of my skin has greatly improved. I have reduced wrinkles (not that I had very many before), my pore size shrank noticeably, and the tone and texture is better than it's been since my pre-teen years.
The biggest drawback is the cost, but it works well and doesn't have much downtime. I wouldn't recommend going right back to work just because of the slightly discomfort and the high probability that you'll be a bit red. However, I've never had a problem going out in public the next day.