You will either love them or hate them. I belong to the former group.
If I ever see a hot, steaming batch of boiled peanuts being sold on the street (which is often), I cannot resist getting some!
The most common reason cited for the frequent advice to avoid eating these, is that the quality of water being used to boil the tender peanuts may not be the best sort.
I think that since the water is kept boiling for a few hours while the peanuts cook, it should be fine. Guilty of being too lazy to boil them at home!
To eat, just crack open the shell, a little pressure easily splits them in half, and pop the contents into mouth. Repeat.
Watch out for the occasional shell that's loaded with salty water!