I got my nipples pierced a couple of weeks ago. I wasn't sure if I wanted to because I have very large nipples and breasts, I was afraid it wouldn't look the way I wanted it to.
I finally went in anyway with the encouragement of my hubby. The piercing was WAY less painful than I thought it would be. The second one was slightly more painful but they were actually about the same level of pain. It actually hardly hurt at all. The only down side was it felt like it took a LONG time for the needle to go through though it wasn't long at all. My nipples throbbed for a while but it just felt like I'd been nursing.
I wore a molded cup bra and that helped a lot, slept in a sports bra (for you large breasted women it is NOT comfortable to be braless). I took ibuprofen regularly. I never had to ice them at all. I was actually jogging and playing volleyball by the third day.
If you're thinking about doing it you definitely should! The pain is minimal and over with quickly. Mine have grown on me though I want to switch to rings, my piercer said barbells heal easier. I went to Chuck at Pierced hearts tattoo parlor in seattle. I've had 5 piercings with her and she's awesome!
I lost a lot of sensation in my nipples after nursing two children, I'm hoping this will help so far it seems to be but I'm anxious for when we can actually play with them!