A couple of small additions/ammendments to the above:

Virgin guy:
Before the action he will be thinking 'wahay!!' mixed in with worries of stories he's heard about premature ejaculation.

  • Wear a condom. - it makes the guy less sensitive so he might last a bit longer.
Virgin girl:
Probably (after all, us guys have no idea what's going on in the female mind) worrying about whether she should be doing this and whether something is going to go wrong and she'll end up pregnant. She'll be curious as to how it will feel and she will find out that it will feel something like somebody trying to push an elephant through an extremely tender eye of a needle.
  • Wear a condom. - it helps to lubricate the whole process, therefore reduces the pain. Also will help to calm her fears about pregnancy, even though it is not as reliable as the pill it is a protection that she can see and feel doing its job and you instantly know if it hasnt.
  • I agree with Cyt that there's a chance that she'll have a change of heart - go with it, the more space and time you give her the sooner she will be prepared to have another go.
  • Chances are on the first attempt you won't even get half way in before she starts whincing in pain. You've heard the stories of various countries where men proudly showed off the blood stained bedsheets that were used by him and his bride the night before, well imagine your meat and two vegetables being stretched to the point of ripping and bleeding everywhere - sounds painful, doesn't it? think you're going to enjoy an orgasm in the middle of that? not likely.
  • But guys, the main point here (and I can't stress it enough) is that you really have to take it slowly in fact, imagine slow, divide it by the largest number you can think of and you still 'aint slow enough - and that's just for an experienced girl who doesn't have the added excruciating pain, for a virgin you have to move so slowly that you're practically moving backwards.
And now for the obligatory ending note:
Don't worry about the first time, it is heralded as the most wonderful event in your life but more often than not it is embarrasing for guys and painful for girls. Stick with it - It does get better!!!!

EE - Time to ejaculation may not be important for everyone but I know that an extremely large number of guys see things otherwise. That's why I included the bit about the condom .... as an example, I do everything possible to make sure I come last (This is the only sport where I do that ;) ) - it sort of seems polite that way.