Lots of hilarity and some good bruises but those were mostly remedied by disallowing freezing the paint balls. Some really unsettling conversations with local and base police, paint ball guns can look like a gun in the dark and if you alter their color it can lead to problems. Most of us had that old standard green CO2 powered model whose name escapes me.
Speaking for myself, I never even took the hit man game as anything more than fun, we never had anyone freak out about losing. Most took pride in just not getting tagged by the next meeting and i think only once did someone take the pot, it usually ended up as that weeks pizza.
Laser tag was definitely not the same, the primary difference being it doesn't hurt if you screw up.