i vote lifestyle, there's so much more to it.
for me, it's the endorphines, i was discussing my particular joy that comes from being hurt and that's what he pointed out, having spent a significant amount of time talking to me. i like the high...i enjoy being frightened, hurt, or other rushes that bring that fight or flight sensation, but i'm not into the pain aspect of it, just the after affect.
i enjoy everything else that can go with this lifestyle that makes it more than self mutilation, it's no fun if you know when the hurt's coming or kisses and a nice spanking to lighten the seriousness such a session can produce.
i may be misunderstanding the usage of masochism in this thread, but in the world of bdsm, it's most definetly a viable aspect to the lifestyle.