I just had one. It isn't pleasant. But I have an overactive bladder, which means that sometimes I urinate as much as 20x a day. I plan my activities around this; urinating before meetings, movies, or getting in the car; avoiding fluids when I am going to be traveling by air, etc. The possibility that this might help the doctor pinpoint and treat the cause seems worth it, though I haven't had a follow up with the doctor yet.
Mine involved urinating into a funnel to measure flow rate, and inserting one catheter. That was probably the most uncomfortable part. There was one sharp pain (I think when it entered the bladder). Then, I stood over the funnel, and the bladder was emptied via the catheter. After that, they filled my bladder with saline solution until it was quite uncomfortable. I had a probe/sensor in my anus to measure abdominal pressure, and sensors attached to the skin around the anus. The technician described that as being like an EKG for your butt. That was not uncomfortable, though he told me the used to insert needles, which made it more uncomfortable. After I reached my bladder filling discomfort threshold, I emptied through the catheter. Following that, the tech measured my urethral pressure. That seemed to involve slowly removing the catheter. That was a bit uncomfortable, but not horrible.
After the procedure, urinating was a bit uncomfortable for a couple of hours. But I've had UTIs that had worse symptoms.