I never once pulled a tooth out, just wobbled them until they fell out, and had no pain or blood at all. My dentist didn't seem to have a problem with it and I've never needed braces or anything. Sometimes they used to fall out in the night and once I swallowed one, but my dentist said that was okay as the stomach acid would corrode it enough not to harm me.
The only problem came when they were so wobbly I would insist on dribbling everywhere in case I knocked it - one night this happened when my mum was going out and she had to pin me down on the bed to pull it out. I screamed the house down but actually it didn't hurt at all.
The only ones I would say are best to pull out are the molars as my insistence to keep them in until they fell out basically meant they went rotten before they did fall out of their own accord which was not pleasant.