We've as much hair as a gorilla has, only most of it is in the form of tiny, nearly transparant hair. Like said earlier, we should look at this from an evolutionary perspective if we want to understand this.
We used clothing to cover our body and were always creative in finding/building shelters. Some other factors have probably played a role as well (e.g. attractiveness).
The result is that we've only four spots of 'fur' left (head, armpits and 'down there'

). I doubt that this hair will 'devolve' soon, and neither will the hair on the rest of our bodies. Even those tiny hairs on your arms and legs play a role in keeping us warm (keeping body-heat from dissipating by keeping a layer of air around the body).