I had the same fears when beginning
Lamictal- the warnings are very terrifying-- but I experienced none of the rashes or
side effects, and responded well to it in general. My psychiatrist feels it is one of the most effective drugs out there for bipolar despite this side effect, which from the research I have seen is rare, but serious.
If you are thinking of starting it, the doctor should start you out very slowly on what is called the "starter pack," which brings you up very slowly.