It's been a while since anyone has posted here. I suggest looking at this site to learn about gene therapy, its implications (costs, ethical concerns, etc...)

http://www.ornl.gov/sci/techresources/Human_Genome/medicine/genetherapy.shtml

Indeed, a ways away.

Yes, gene therapy is quite a while away, even in the case of many life-threatening illnesses. It will be even longer before we have it as an option for a "cosmetic" issue like hair removal.