Does it hurt?
Everyone's different, for me, it didn't hurt, it was more of a stretching feeling than pain, it lasted about 5 seconds then you're just overcome by the pleasure haha but like I said everyone's different.
Do you bleed?
Again, everyone is different, I didn't bleed, it depends whether your hymen has broken, if you want to know about the hymen then just ask and I'll post again =)
Is it good or bad?
It's good, very good for me. I think it depends on the person you are having sex with and whether your ready. If you don't really like the person intimately then most of the time it won't be good, the same with whether you're ready or not. If you aren't mentally and physically ready for sex then you won't enjoy it. Don't rush into sex. But yeah, sex can be extremely good =)

If you want to know anything else then just ask

I know im a bloke but i'll give my opinions on the matter, i'm far from new to it.

Does it hurt?
Alot of different responses, on the whole most women sting, i only met one woman who hurt during penetration.

Do you bleed?
Everyone i've met has, but it's never alot.

Is it good or bad?
Considering myself experienced i'd say it can be after a few minutes of adjusting, foreplay is the key, on an average foreplay session i'd spend 30 minutes of oral and finger play, being drenched help, after the first few sessions of sex you should really get into it, it only gets better with the right partner.

In other words, im scared.
Most women are nervious, it's understandable, any nice/understanding guy will pull away and out if you don't want to continue, just build up some courage and try, or practice with your fingers to prepare yourself.

Hope this helps from a mans perspective.