The bad pain is very brief, because obviously that area is sensitive. As long as you don't do anything strenuous for the healing period (like intercourse) The pain is fine.
The amount of flesh that is pierced for a VHC is much thinner then the flesh of your earlobe. If you've had an ear pierced you can most likely tolerate a VHC. With a professional, well informed, piercer this should not be an overly traumatic experience.
Being the sensitive area that it is, one would think it hurt's more than it actually does. Depending on your sensitivity in that area, it will hurt more for some.
Most piercings are painful, but you have to remember all people take pain differently, so something that hurts to someone else, might not hurt to you at all, or visversa. In my opinion, I think that would be pretty painful.